Decision details

The report was introduced by Chrissie McQueen, Hotwalls Studio Development Manager.

Councillor Pitt advised Councillor Symes has sent in her comments on this report which he read out as follows and noted:

'The only objection I had was to the extension of the leases at the Hotwalls Studios. Developing or starting up a business should not take six years and some businesses occupying those spaces are very successful.This goes against the original principals of this project. It also stops the large numbers of people waiting for an opportunity to occupy a studio'.

Chrissie explained that the landscape of the waiting list had changed and a lot of the businesses were more developed.  They would never stop people coming in through the Hotwalls studios and supported in the region of 20 businesses to date.

Councillor Udy said she felt it was important to also look into other sites around Commercial Road for businesses starting out.  Councillor Pitt advised that they are looking at options around move on spaces.   

Councillor Pitt was content that officers had considered the issues raised by Councillor Symes and for the reasons identified this was the best way to proceed.   

DECISIONS: The Cabinet Member:

(1) Approved the new maximum period of 6 years tenancy and this tenancy consist of two 3 year leases.

(2) Agreed existing tenants also have a maximum term of 6 years.

(3) Agreed that the revised rental model is applied from April 2021 and for all current tenants renewing in that year.

(4) Approved that the new notice period in the lease to increase by one month to 3 months' notice period, for both parties.

(5) Agreed to continue the current two tier rental model based on square footage.