Decision Maker: Assistant Director: Assets and Property
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Grant of a new 10 year lease term to a
precision engineering company
To approve the grant of a lease of Unit B3 at
Moorfield Point to Apollo Precision Ltd. on the following
terms:
Term: 10 Years
Rent: £39,474 p.a. + VAT (payable quarterly in advance)
Rent Free: 3 Months
Breaks: Tenant-Only after 5 years
Reviews: Open-Market, Upward-Only review after 5 years
Deposit: 6 Months rent + notional VAT
This decision is made in accordance with the Council’s
General Disposal Consent powers. This letting provides the best
consideration reasonably obtainable.
If you have any queries, then please contact George Musgrave who
will be happy to provide further information.
In order to secure a commercial letting of the
property and receive the rental income.
The decision meets the policy requirements for
the Council and there were no alternative options
available.
Publication date: 28/06/2023
Date of decision: 28/06/2023
Effective from: 06/07/2023