Walton Street
HP21 7QW Aylesbury
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Description
This development site is available by way of sub-lease/assignment for a term of up to 140 years subject to freeholder's consent.
The lease by which the HMCTS interest at this property is formed is shown below:
Landlord | Aylesbury Constituency Conservative Association
Tenant | The Secretary of State for Housing Communities and Local Government
Commencement | 1st August 2008
Expiry | 31st July 2158
Term | 150 years
Initial Rent | £155,000/annum
Title Numbers | BM338438
Break/Disposition | This lease contains a provision that prohibits disposition
Assignment | Not to assign the whole or part of the demised premises without the Landlord?s written consent (not to be unreasonably withheld) save that where this lease is vested in a Crown Body the Tenant is permitted to assign the whole of the demised premises to any other Government Department without such consent.
Sub Letting | Not to sub-let the whole or part of the demised premises without the Landlord?s written consent (not to be unreasonably withheld) save that where this lease is vested in a Crown Body the Tenant is permitted to assign the whole of the demised premises to any other Government Department without such consent.
Rent Review | Rent review dates: every fifth anniversary of start date the rent is to be increased by 10.40807%.
By way of illustration, the first four rent increases shall be set out as follows:
The annual rent from the fifth anniversary of lease commencement shall be £171,132.51;
The annual rent from the tenth anniversary of lease commencement shall be £188,944.10;
The annual rent from the fifteenth anniversary of lease commencement shall be £208,609.53;
The annual rent from the twentieth anniversary of lease commencement shall be £230,321.76;
Permitted User | The lease is subject to a permitted user clause ? restricting use as ?courts or hearing rooms? and/or Government and/or other offices within Class B1 in the Schedule to the Town and Country Planning (Use Classes) Order 1987.
Alterations | Not at any time without the licence in writing of the Landlord first obtained (such licence not to be unreasonably withheld or delayed) to erect any new building or structure on the demised premises.
Other Lease Provisions | A copy of the lease signed 1st August 2008 is available upon request.