Decision Maker: 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 CEMEX UK Operations.
In accordance with the second schedule of the lease, the annual
passing rent of £76,230 has been reviewed as at 1st September
2023 and it is proposed to increase it to £92,750pa.
The rent review is based on a cleared site for the permitted use in
the lease. After a period of negotiation, the tenant has offered to
settle at a figure which our consultant has confirmed is in line
with the available market evidence and takes into account the
relevant factors.
A memorandum will be endorsed on the lease recording this
review.
If you have any queries, then please contact Charles Wood who will
be happy to provide further information.
To conclude the rent review in accordance with
good estate management practice.
The decision meets the statutory requirements
for the Council and there were no alternative options
available.
Council’s 31/1/2024 Constitution Part 3,
Page 3-63 Para 4(a).
Publication date: 05/04/2024
Date of decision: 05/04/2024