Lease Renewal of Unit 1 Union Square, Torquay
PDF 188 KBDecision Maker: Director of Finance
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decision:
That the lease for Unit 1, Union Square Torquay be renewed with the existing tenant, namely, Guild 750 Limited for a three-year period.
Reasons for the decision:
The lease terms have been agreed in principle between the Council’s retained agent and Tenant direct on commercially acceptable terms.
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:
The Tenant, Guild 750 Limited is currently occupying under a lease dated 29th September 2014, trading as F Hinds jewellers. Before the lease comes to an end, to avoid the Tenant acquiring protection under the Landlord and Tenant Act 1954, the occupation now needs to be documented by way of a lease renewal.
Interests and Nature of Interests Declared:
None
Publication date: 26/09/2024
Date of decision: 25/09/2024
Contact Governance Support
- Email: governance.support@torbay.gov.uk
- Tel: 01803 207087
- Fax: 01803 207112
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