Decision details

To seek approval for the grant of a new lease for a nine-year period at 1 Sheep market, Stamford.

That approval is granted for a new lease at the First Floor, 1 Sheep Market, Stamford in line with the Heads of Terms enclosed in Exempt Appendix 1 – Heads of Terms.

The unit has been utilised as a café operating on an annual agreement. Following conversations between the tenants, SKDC and the managing agent, the tenant on the Ground Floor wishes to take occupation to create a formal lease for the space and run alongside the lease in place for the Ground Floor.

The proposed tenant has expressed that they wish to commence a lease for nine years. The terms can be located within Exempt Appendix 1 – Heads of Terms.

The tenant will be specifically responsible for the upkeep, maintenance, and repair of the internal parts of the property. The insurance is to be effected by the Landlord and recoverable from the tenant.

The tenant is currently operating a business on the ground floor and wishes to expand his business and utilise the first floor for a food preparation area in support of the ground floor. Any planning permissions will be obtained by the tenant.

The proposed heads of terms set out a proposed rental level which is in accordance with expected budgetary levels for 2022/23.  Therefore, from a financial perspective the proposed rental is supported.