To approve the grant the lease of the above
industrial unit to CROWN PAINT LTD in line with the following terms
and conditions:
• For a term of 15 years at a rent outside the Act 1954
• Rent of £39,474 per annum exclusive, payable quarterly
in advance
• A rent free period of 8 mths
• Tenant break in year 10
• Rent review 5th and 10th anniversary
This provides the ‘best consideration reasonably
obtainable’ where the proposed term exceeds seven (7)
years.
If you have any queries, then please contact Jacqueline Stewart who
will be happy to provide further information.