Permit the mutual surrender of office 3-10 and grant of a new lease as described above.

The new lease secures an annual rental income for two years.

The Council may choose not to surrender the lease for office 3-10 and instead only offer an amalgamated lease for offices 2-03, 3-03, 3-04, 3-05, 3-06 & 3-09. However, strategically the Council are minded to nature the long term working relationship with the Tenant.

This decision will be implemented immediately.

The Tenant, Superb Media Limited (Company number: 08197829), currently holds two leases which cover occupation of offices 2-03, 3-03, 3-04, and 3-05, both of which expire 31 December 2025. They also currently have use and occupation of office 3-10 on a Tenancy at Will basis, and finally a separate lease for office 3-09 which expires 31 December 2026. The Tenant wishes to amalgamate all agreements into one lease commencing 1 January 2026. This will ensure a valued tenant remains at EPIC and that Torbay Council guarantee rental income for 2 years. To enable this, we suggest simultaneously surrendering their lease for office 3-10 and formalising their occupation by way of a new lease. The new lease will have an annual rent as set out in exempt appendix 1 on a 2 year term. Torbay Council have also agreed an extension to the break clause of a minimum of 6 months notice to further protect our income.

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