Decision details

The Council’s tenant of the above property has requested that they be given a licence to allow the assignment of Unit 20, Phase 4, Midleton Enterprise Park.

The current lessee Be Seated Hire Ltd wishes to assign its lease to L & J Interior Design Ltd for the remainder of the lease term which expires on 25/01/2029. The lease agreement is outside the security of the Landlord & Tenant Act 1954. The assignee’s company accounts have been reviewed as part of the Council’s due diligence process and a 3 month rent deposit of £3,833.25 will be payable by the assignee.

The proposed assignment provides the ‘best consideration reasonably obtainable’ where at the time of assignment the remaining term exceeds seven (7) years.

The current lessee no longer has a business requirement for the property. The proposed assignment ensures occupation by an alternative tenant of suitable financial standing to meet the lease obligations until the expiry of the term on 25th January 2029

The decision meets the statutory and policy requirements for the Council and there were no alternative options available

Scheme of Delegation to Officers December 2024
Assistant Director – Assets and Property
Para. 3.8.5
In relation to premises leased or licensed to others:
e) to approve proposals for assignment, sub-letting or surrender of leases and for change of use;
In consultation with Portfolio Holder
JSD Finance where there are financial implications.
Portfolio Holder (Housing) for HRA non-commercial leases.
Relevant Assistant Director/JSD