(i)       that the Mayor disagrees with the objection to the Amendments to the Corporate Asset Management Plan as this would pose a significant financial risk to the Council if the objection was implemented; and

(ii)      that the following wording be added to the Corporate Asset Management Plan to clarify the approach to be taken respect of sports leases:

“The estimated market rent assesses the lease value against other similar leases (i.e. sports leases) across the South Devon area. An estimated market rent will take into account whether the landlord or tenant has the liability for the cost of maintenance and what income generating facilities are at the disposal of the tenant i.e. a club house & bar, private car parking, etc. The estimated market rent would also reflect the restrictive nature (sports use only user clause) of the lease and the level of the security of tenure.

A combination of the above factors can either increase or lower the valuation and so it must not be assumed that a ‘market rent’ is necessarily a high rent. In the case of sports clubs the ‘market rent’ should not be compared with the commercial rent a business might pay in the high street.”