Mandela Way - Rent Review

Mandela Way is a site leased for use as warehousing facilities. As a result of a 5 yearly rent review on the existing lease MOPAC is asked to approve the business case. The increase in rent has been foreseen by the MPS and sufficient budget provided for the intended period of occupation.

The Deputy Mayor for Policing and Crime is recommended to approve the business case for the agreement of the revised rent.

1. Introduction and background

1.1. MOPAC lease units at Tower Bridge Business Park to provide warehousing facilities. The lease is subject to regular 5 yearly rent review.

2. Issues for consideration

2.1. The proposed higher rent is consistent with regional industrial unit rentals and is above the MOPAC scheme of delegation for the approval of business cases.

3. Financial Comments

3.1. The increase in the rent has been foreseen by the MPS and sufficient budget provided for the intended period of occupation.

4. Legal Comments

4.1. In carrying out its functions, MOPAC may, under paragraph 7, Schedule 3 of the Police Reform and Social Responsibility Act 2011 “do anything which is calculated to facilitate, or is conducive or incidental to, the exercise of the functions of the Office”.

4.2. Under the MOPAC Scheme of Consent and Delegation 4.8 the DMPC must approve “Business cases for revenue or capital expenditure of £500,000 and above.”

5. Commercial Issues

5.1. The MPS appointed property agents have confirmed that the increase in rent is evidenced by other comparable rentals. See part 2 for further detail.

6. GDPR and Data Privacy

6.1. This report does not use personally identifiable data of members of the public therefore there are no GDPR issues to be considered

7. Equality Comments

7.1. There are no equality implications arising from this proposal.

8. Background/supporting papers

8.1. N/A