Decision Maker: Assistant Director: Assets and Property
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
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 conveyancing process takes
place.
During the Lease Renewal process YATM decided to not renew its
lease, and instead allow their sub-tenant Bower Wood to contract a
lease directly with the Council.
It is therefore proposed that the Tenancy at Will dated 5th October
2021 with YATM will be terminated.
A Tenancy at Will shall then be put in place to Bower Wood, and
then terms finalised for a new lease.
YATM has paid its rent up to the 24th March. Bower Wood will pick
up rent payment from the 25th March onwards.
If you have any queries, then please contact George Musgrave, who
can provide further information
This decision must be taken to correctly
document the tenant occupation of 5 The Billings, and protect the
Council’s investment asset.
The alternative option of allowing YATM to
remain in the property has become impractical and
untenable.
Council’s 31/01/2024 Constitution Part
3, Page 3-62 Para 1
Publication date: 10/04/2024
Date of decision: 09/04/2024