Decision details

The Council leases land off New Road, Ware to use as a shoppers car park. The current lease has expired and negotiations have taken place for the grant of a new lease. Terms have now been agreed on the basis of a new 15 year lease with the rent increasing from the current rent from the start of the new lease on 9th May 2023. The rent will be reviewed every 5 years and will be upwards only. The purpose of this report is to seek consent to the grant of a new lease on the terms outlined above.

The Head of Strategic Finance and Property, under authority delegated by Part 10 Paragraph 10.13.16 of the Constitution, has decided to approve the grant of a new 15 year lease as detailed in the report.

Option 1 - Not to grant a new lease but the lease is a protected business tenancy and the Council would not have satisfactory reasons to satisfy the statutory requirements for termination. There would be no real advantage to the Council in this option since there is no established demand for further public parking and the Council would lose the rental income from the asset.
Option 2 - Sell the freehold to the lessor.. This is being considered and may come forward at a later date for consideration.