Nottingham City Council has approved a new lease for a kiosk on Smithy Row, with rental income set to contribute towards the authority’s income targets.
The single-storey city centre premises measures approximately 140 sq ft. The public decision notice does not identify the prospective tenant or say what business will operate there.
An external retail agent marketed the council-owned property and negotiated terms with the prospective tenant. According to the notice, the agreed rent reflects the market value for the location and type of premises.
The council considered not proceeding with the letting but rejected that option because terms had been agreed at market rental value and the lease would provide an income stream.
The rent, length of the lease and other commercial terms have not been made public.
