Decision Maker: Director Net Zero Exeter & City Management
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Delegated authority to enter into lease agreements value for set amount, Topsham
To grant an option to renew existing lease up expiry in 2030 for a term of 25 years subject to 5 yearly open market rent reviews. The tenant wish to make an investment to improve the property, but to secure finance to do this they require a longer term certainty of continued occupation.
Surrender and renewal for a longer term was considered but this had stamp duty implications.
Publication date: 22/07/2019
Date of decision: 22/07/2019