The Commissioners wish to give notice that the following Petition will be submitted to the Department of Infrastructure on Monday 4th April 2022 in accordance with Section 25 of the Local Government Act 1985.
Issuing of 10 year leases to tenants at Braddan Community Centre
The construction of the new community centre in Braddan commenced in May 2021 and is expected to be completed in April 2023.
There are 8 Units that are to be leased out commercially.
The Local Government Act 1985, Paragraph 25 (2) relating to the Acquisition and disposal of land, states inter alia that the consent of the Department is required for issuing a lease on land for any more than 7 years.
The Commissioners, having taken into consideration the financial investment by both parties, and the need to offer longer term leases to attract tenants who will fully commit to the scheme, are of the opinion that a 10 year lease would be more appropriate.
The Commissioners offered the Units by tender and have subsequently allocated the 8 Units for the following purposes:
The rental income annually is in the region of £250,000 with a triennial review.
The Commissioners have been asked by some of the tenants to maintain their anonymity as the matter is commercially sensitive at this stage in the project.
They have entered in to Heads of Agreements with all parties and wish to issue formal leases at the beginning of 2023.
The Commissioners respectfully request the Department’s approval to issue 10 year leases.
J C Whiteway MBA
Clerk to Braddan Commissioners