Decision details

Decision:

That the Council enters into a ten year lease with Style di Vita Ltd at a rent of £48,246 per annum, subject to a break option and an open market upwards-only rent review at year five.

Reasons:

·      The proposed letting represents best consideration. It is the best offer received after thorough marketing and the rent represents an increase on previous lettings in this location.

·      The proposed annual rent secures an increase in the annual rental income stream for the Council.

Other options considered and rejected by the Executive:

To not enter into the lease.

Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted:

None.