Proposed new lease for Unit 2 - 75 Union Street - Union Square, Torquay.
PDF 189 KBDecision Maker: Director of Pride in Place
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decision:
That a new three-year lease for Unit 2 - 75 Union Street to YMCA, be approved.
Reasons for the decision:
The tenant, YMCA is currently occupying under a Tenancy at Will dated 21 November 2023, the occupation now needs to be documented by way of a formal lease.
Alternative options considered:
The Council may choose not to grant the lease of this property. However, this could result in the Tenant claiming protection under the Landlord and Tenant Act 1954, which may hinder future development of the Shopping Centre.
Implementation:
This decision will be implemented immediately.
Information:
Terms of the new lease have been agreed. To protect the Council’s interest at Union Square Shopping Centre a new three-year term, with a mutual rolling break on 1 month notice is to be granted. We have also agreed what is considered a market rent in this situation.
Interests and Nature of Interests Declared:
None.
Publication date: 06/02/2024
Date of decision: 23/01/2024
Contact Governance Support
- Email: governance.support@torbay.gov.uk
- Tel: 01803 207087
- Fax: 01803 207112
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