Decision details

Yvonne Arnaud Theatre Management Ltd. (YATM) held a lease of this property which expired on 24th July 2021. Since that date they have occupied the property under a tenancy at will while the lease renewal process takes place.

Their set design department had previously occupied the property, but this was incorporated as a separate Ltd. Company in May 2021, Bower Wood Production Services Ltd.

Bower Wood occupied the property without a sub-lease agreement in place with Yvonne Arnaud. Terms could not be agreed for this sub-lease and so YATM chose to not to renew its lease and allow the Council to grant a lease directly to Bower Wood.

Therefore it is proposed that Bower Wood Production Services is granted a Tenancy at Will for 5 The Billings.

Terms will then be negotiated to contract a new lease of the property to Bower Wood (to be authorised under a separate DA).

This Tenancy at Will shall contract a rent of £21,000 p.a. (the same rent as being received currently from YATM). The change over in rent payment will be on the 25th March 2024 (the March quarter date) for ease of invoicing and administration.

The Council will have the ability to terminate this tenancy at will at any point and take back the property for re-marketing if necessary.

If you have any queries, then please contact George Musgrave, who can provide further information.

This decision must be taken to correctly document the occupation of 5 The Billings.

Taking back vacant possession of the building for re-letting was rejected due to the void costs that the Council would incur without a tenant in situ.

Council’s 31/01/2024 Constitution Part 3, Page 3-62 Para 1.