That the Council enters into an Agreement for Lease to allow the existing tenants of the Pier Point Restaurant to carry out works to extend the ground floor and to create a first floor to the existing restaurant premises and, upon completion of these works, to grant a 125 year lease to the existing tenants on terms previously agreed with the Mayor, Chief Executive of the Torbay Development Agency and the Council’s Chief Accountant.

To improve the appearance and design of Pier Point Restaurant, enhance the built environment along the busy seafront and Torbay Road and improve the restaurant offer for residents and visitors.

To reject the request from the existing tenants.

This decision will come into force and may be implemented on 5 August 2015 unless the call-in procedure is triggered (as set out in Standard Orders in relation to Overview and Scrutiny).

The submitted report set out details in respect of the existing tenants of the Pier Point Restaurant wishing to invest in their business and extend the ground floor and add a first floor at their own cost.  In order to secure the funding to cover these extensive works they require a longer lease of 125 years.

They have a 40 year protected lease of the premises, with 34 years remaining and an automatic right to a new lease afterwards, unless the Council is able to satisfy certain grounds and recover possession.  As such, the tenants are the only people that can carry out this work and this investment until their lease expires and the Council is able to recover possession of the premises.

The Mayor considered the matter following debate at the Council meeting on 23 July and his decision is set out above.

None