Lease at 2 Wheaton Road Witham

Decision made by
Cabinet member for Corporate Services and Asset Management
Key decision
No
Decision
That the Council accepts a surrender of the unexpired term of the existing 99 year ground lease and re-grants a new 125 year ground lease to Briarsford Panelcraft Limited in respect of industrial premises at 2, Wheaton Road, Witham
Reason for decision
This would enable the lessee to invest in the premises for the longer term and generate a significant rental increase and premium for the Council
Summary of alternative options
To accept the proposed revised termsTo decline the request to surrender the current ground lease and grant a new lease
Background documents
Asset management property file: 2, Wheaton Road, Witham
Declared conflict of interest
None
Equality and diversity implications
None
Safeguarding
None
Legal
None
Customer impact
The lessee of the site, Briarsford Panelcraft Limited, will benefit from the additional security of tenure of an extended lease term
Environment and climate change
None
Consultation and community engagement
The lessees of the frontage plot at 2. Wheaton Road, Witham have been consulted on the proposal and agreement has been reached to a variation of their ground lease
Date decision made
February 5 2020
Contact us
You can contact us if you would like a copy of the record and supporting papers for this decision. Email [email protected]