Decision details
Decision Maker: Corporate Director Planning, Growth and Sustainability
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decision:
To grant landlord’s consent for the
lease assignments proposed by the current tenant of all four units
confirmed above.
Reasons for the decision:
The current tenant of all four units (Ultra
Electronics Limited) has been acquired by Cobham (part of Advent
International Group) and will now trade as Ultra Sonar Limited. As
a result Ultra Electronics Limited are now seeking an assignment of
all their leases at Knaves Beech to their new trading entity, Ultra
Sonar Limited.
Under the subject leases the tenant is permitted to assign subject
to the assignor agreeing to an Authorised Guarantee Agreement.
Landlord’s consent is required for the assignment, such
consent cannot be unreasonably withheld or delayed. There is not
sufficient reason for the landlord to withhold this
permission.
Alternative options considered:
Refuse consent to assign. This would likely be
challenged by the assignee and could potentially be
overturned.
Wards Affected: The Wooburns, Bourne End & Hedsor;
Details of any conflict of interest declared: There are no known conflicts of interest.
Contact: John Reed, Director of Property & Assets Email: John.Reed@buckinghamshire.gov.uk.
Publication date: 07/03/2023
Date of decision: 06/03/2023