To approve the variation of the lease dated 15/12/72 of 4 Westfield
Road let to LeedsHeath Ltd in line with the following terms and
conditions:
• To replace the current permitted use with “Any use
falling within B2, B8, E(g)(iii) plus ancillary office use under
E(g)(i) of the Town & Country Planning (Use Classes) Order 1987
as amended”.
• To remove the current basis of review so that the open
market rent should be based on 12% of the open market rental value
(not referenced to sublease income). Tenants improvements carried
out prior to the date of the next rent review will be included/not
disregarded. Otherwise, any consented improvements carried out
after the date of the first rent review will be disregarded. The
assumed term will be 10 years but if such a hypothetical term would
result in a discount, then the assumed term shall be for such a
period that is in keeping with typical lettings of such units as
the property in the open market at the review date.
• Date of next rent review and frequency of rent review
– the existing lease provides that the next rent review is
due 26/5/34 (every 21 years). This next rent review date will be
brought forward to 26/5/29 and thereafter every 5 years.
The financial advantages to the Council in amending the rent review
provisions of the lease offset the advantage to the tenant of
widening the user provision 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.
If you have any queries, then please contact Charles Wood who will
be happy to provide further information.