Decision Maker: Joint Assistant Director: Assets and Property
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
To approve the reviewed rent of the above
property leased to Spotler.
In accordance with Schedule 4 of the lease, the annual passing rent
of £154,423.50 [One Hundred and Fifty Four Thousand, Four
Hundred and Twenty Three pounds and Fifty Pence] has been reviewed
as at 24th June 2024 and it is agreed to increase it to
£156,662.31 [One Hundred and Fifty Six Thousand, Six Hundred
and Sixty Two pounds and Thirty One Pence]
In approaching the rent review dated June 2024, we had regard to
the most relevant evidence within the subject property
itself.
The proposed uplift realised equates to £2,238.81 per annum
and £11,194.05 over the course of the remaining term to lease
expiry on 23 June 2029.
A memorandum will be endorsed on the lease recording this
review.
If you have any queries, then please contact Felicity Cooper in
Asset Management who will be happy to provide further
information.
Authority is sought to approve the proposed
rent review settlement so that the Rent Review Memorandum can be
formally signed and completed and the rental uplift realised by
Guildford Borough Council.
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
Publication date: 09/04/2025
Date of decision: 04/04/2025