URL: https://democracy.stratford.gov.uk/ieDecisionDetails.aspx?ID=4108

Decision Maker: Deputy Chief Executive

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Purpose: The Bank is currently holding over under a lease which expired in August 2025.  This renewal has been the subject of prolonged negotiations between the Council’s agents, the agents for the Town Trust as joint landlord, and JLL, the agents for the Bank.    The Bank has not served a Notice under Section 26 of the Landlord and Tenant Act 1954 which is the tenant’s notice for a new lease.    The service of the Section 25 Notice is to pre-empt a Section 26 Notice being served.  As the Council with the Town Trust, and the Bank are not in agreement on the currently proposed terms, the Bank requesting a shorter term and a lower rent, the Section 25 Notice starts a court related negotiation process at the landlords’ preferred level.   The Council and the Town Trust are very mindful that the Bank is important to the Town and wish to preserve this facility.    Serving the Notice locks the Bank into a negotiation and a potentially longer lease at a higher rent, than might otherwise be achieved, though the Court will assess a rent by reference to the market rent.  

Content: The Bank is currently holding over under a lease which expired in August 2025.  This renewal has been the subject of prolonged negotiations between the Council’s agents, the agents for the Town Trust as joint landlord, and JLL, the agents for the Bank.    The Bank has not served a Notice under Section 26 of the Landlord and Tenant Act 1954 which is the tenant’s notice for a new lease.    The service of the Section 25 Notice is to pre-empt a Section 26 Notice being served.  As the Council with the Town Trust, and the Bank are not in agreement on the currently proposed terms, the Bank requesting a shorter term and a lower rent, the Section 25 Notice starts a court related negotiation process at the landlords’ preferred level.   The Council and the Town Trust are very mindful that the Bank is important to the Town and wish to preserve this facility.    Serving the Notice locks the Bank into a negotiation and a potentially longer lease at a higher rent, than might otherwise be achieved, though the Court will assess a rent by reference to the market rent.   The decision is for the Deputy Chief Executive of the Council to approve the service of the Section 25 Notice on the terms currently proposed. This decision is in conjunction between the Council and the Town Trust which is a joint landlord.  The Town Trust has approved the service of the Notice and the currently proposed terms.   Section 123 of the Local Government Act has been taken into account and it is believed the currently proposed terms represent best consideration.    Serve the Section 25 Notice to pre-emp the possibility of a Section 26 Notice being received.  This leads to a process which settles the terms and generates a new lease.  This could involve court proceedings with the related costs of that; or   2.    Do nothing and wait for the Bank.  This is not felt appropriate as it does leaves matters in abeyance, not only over the rent and the term but generally as there will be no written lease and the Bank will remain holding over.  However, this would be at the current rental but could lead to the Bank vacating the premises in a short time, possibly in as little as six months.  

Date of Decision: December 23, 2025