Decision details

The Executive Member (Resources), Councillor Peter Wilson, presented the confidential report of the Director of Planning and Property which sought Member authorisation for the grant of a new lease of Unit 13 Market Walk.

Resolved:

1.         To approve the terms outlined in this report.

2.         To delegate authority to the Director of Governance to be authorised to complete the legal formalities in accordance with these terms.

Reasons for recommendations

1.         Following a recent marketing exercise and negotiations between the parties, the proposed terms have been provisionally agreed and recommended by the Council’s Retail Consultants and reflect current market conditions within the Market Walk Centre in line with other leases which have been recently agreed / completed. This proposal is also seen as a good opportunity to attract a well-known local retailer into the Market Walk Shopping Centre and increase footfall within the Centre.

2.         The operator currently operate a store in Chorley town centre, it has been confirmed that they will not close this store as the are looking to expand their operation.

Other options considered and rejected

1.         To continue with the occupation of the premises as a Vaccination Centre on a periodic licence basis.

2.         To continue the marketing of the unit to achieve a slightly better rental outcome.