Decision details

To approve the reviewed rent of the above property leased in by the Council as Tenant over the subject land sited at the Artington Park & Ride.
In accordance with Schedule 3, Part 1 – Rent Review Provisions clause 2 of the lease, the annual passing rent of £83,193.64 has been reviewed as at 1 July 2022 and it is proposed to increase to £90,995.45.
The lease dated 5 November 2007 sets out 5 yearly rent reviews equal to the greater of either the current rent passing; the Retail Price Index Rent; or the Car Parking Charges Rent. The latter is calculated by taking the price payable for parking one car at the Car Parks (Farnham Road, York Road and Bedford Road) during the Peak Hour (between 10am and 11am Monday to Friday).
The Car Parking Charges Rent is the higher of all three methods and is therefore the revised rent as at the Rent Review Date on the 1 July 2022.
A memorandum will be endorsed on the lease recording this review.
If you have any queries, then please contact Francesca Kosh or Mark Appleton who will be happy to provide further information.

In accordance with the terms of the lease.

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

Scheme of Delegation to Officers January 2025

Assistant Director – Assets and Property
Para. 3.8.5
In relation to premises leased or licensed to others:
(a) to approve revisions in rent