To approve the grant of the lease of the above
premises to J D Wetherspoon PLC in line with the following terms
Permitted use is a Public House with ancillary sale of hot and cold food or any other purpose within A3 Town and Country Planning?(Use Classes) (Amendment) (England)?Regulations 2020?
The agreed term is 25 years; the rent is £220,00 pax; payable quarterly in advance; the rent will be stepped over 5 yrs. raising to £245,000 in the 5th year; thereafter the rent will be reviewed every 5 years upwards by 7.5% of the previous full years rent.
This is 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 Jacqueline Stewart who will be happy to provide further information.
Decision type: Key
Reason Key: Expenditure > £200,000;
Decision status: For Determination
Wards affected: Holy Trinity;
Notice of proposed decision first published: 09/03/2023
Decision due: 6 Apr 2023 by Joint Executive Head: Assets and Property
Contact: Jacqueline Stewart Email: email@example.com.
Authority / Delegation: Council’s 8/12/2022 Constitution Part 3, Page 3-67 Para 3(a), Executive Head: Assets and Property in consultation with the appropriate lead councillor and subject to being satisfied that the Council will receive the best consideration reasonably obtainable: Subject to consultation with the Chief Finance Officer to accept terms for the granting, renewing, reviewing and varying of leases of Council owned land and property held in the General Fund