DD1347 Surrender & Renewal of Lease of Plot 4A, London Sustainable Industries Park

Type of decision: 
Director's decision
Date signed: 
29 May 2015
Decision by: 
David Lunts, Interim Head of Paid Service and Executive Director Housing and Land

Executive summary

An existing lease relating to Plot 4 London Sustainable Industries Park (‘LSIP’) (with approximately 10 years unexpired) is to be surrendered and, simultaneously, a new lease of land known as Plot 4A LSIP outside of the Landlord & Tenant Act 1954 (in respect of security of tenure and compensation provisions) is to be granted by GLA Land and Property Ltd (‘GLAP’), the Landlord, to the Institute for Sustainability (‘IfS’), the tenant.

The new lease, of land known as Plot 4A LSIP, is substantively on the same terms and conditions as the existing lease of Plot 4 except that: (i) the lease/service charge start date is to be 1st January 2015, and (ii) the land to be demised under the new lease is a revised plot located on the north side of LSIP Hub building, where the services are configured, rather than on the south side as currently demised.

Part 1: Non-confidential facts and advice