To grant a new lease of Leys House, 86-88
Woodbridge Meadows, Guildford GU1 4QD.
The tenant is The Secretary of State for Levelling Up, Housing and
Communities
You will recall that in January 2022 we sought your approval to
serve a section 25 notice to include the terms for the grant of a
new lease. Since that time, negotiations have progressed, and the
terms have now been agreed, subject to your approval:
A new lease to be granted broadly on the same terms as the current
lease with the following changes:
A new lease inside the Act for 9 years subject to tenant only
breaks at years 3 and 6 on 9 months advance Notice and open market
rent reviews every 3 years.
The rent is to be increased from £408,000pa to
£481,796.50 which in accordance with the Council’s
General Disposal Consent powers, provides the ‘best
consideration reasonably obtainable’ where the proposed term
exceeds seven (7) years.
The new agreed term is 9 years.
The rent will be payable quarterly in advance and subject to open
market rent review every 4 years.
If you have any queries, then please contact the officer (details
below) who will be happy to provide further information.