Decision details

Grant of a new Contracted-Out Lease of Unit 35 Midleton Enterprise Park to Rising Group Ltd

Decision Maker: Assistant Director: Assets and Property

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:


To approve the grant of the lease of Unit 35 Midleton Enterprise Park to Rising Group Ltd in line with the following terms and conditions:

Term: 5 Years
Rent: £19,000 p.a. + VAT (payable quarterly in advance)
Rent Free: 1 Month
Breaks: Tenant Option to break after 3 years
Reviews: None
Deposit: 6 Months rent + notional VAT

If you have any queries, then please contact Charles Wood who will be happy to provide further information.


Reasons for the decision:

In order to secure a commercial letting of the property and receive the rental income.

Alternative options considered:

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

Source of Authority to take Decision:

Scheme of Delegation to Officers August 2024
Assistant Director – Assets and Property

Para. 3.8.3
To acquire and dispose of land and property in connection with the Council’s functions and to grant leases, variations, tenancies, rights, easements, licences, consents and wayleaves of, in, or over buildings or land in connection with the Council’s functions, in accordance with Council policies and within the approved General Fund capital programme.

In consultation with the Portfolio Holder and the Joint Service Director Finance

Publication date: 03/09/2024

Date of decision: 03/09/2024