URL: https://bassetlaw.moderngov.co.uk/ieDecisionDetails.aspx?ID=304

Decision Maker: Head of Finance and Property

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Purpose: The purpose of the report is to authorise the granting of a rent review for Retford Enterprise Centre pursuant to all tenants being granted new leases in 2024. The proposed new rents have been calculated by the Councils Estates Team based on the square footage of the offices based on current market values for office/industrial space along with the Centre's inclusive costs as set out in the lease.

Content: The purpose of the report is to authorise the granting of a rent review for Retford Enterprise Centre pursuant to all tenants being granted new leases in 2024. The proposed new rents have been calculated by the Councils Estates Team based on the square footage of the offices based on current market values for office/industrial space along with the Centre's inclusive costs as set out in the lease. To increase the review as per the document at Appendix 1 to this report, such increases will come into force from 1 January 2025 for existing tenants and with immediate effect for all new tenants.

Date of Decision: November 20, 2024