Decision Maker: Joint Executive Head: Assets and Property
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
To approve the reviewed rent of the above
property leased to Craggy Island Limited
In accordance with clause 12.1 of the lease, the annual passing
rent of £40,000 has been reviewed as at 29/06/2022 and it is
proposed to increase it to £49,869.
This is based on multiplying the base rent of £40,000 by the
multiplier detailed in the lease (1.246). This will need to be
backdated to the review date of 13/12/2021
A memorandum will be endorsed on the lease recording this
review.
If you have any queries, then please contact Damien Cannell who
will be happy to provide further information.
Rent Review provision in the lease
The decision meets the statutory requirements
for the Council and there were no alternative options
available.
Publication date: 04/07/2022
Date of decision: 04/07/2022
Effective from: 12/07/2022