Queensway North

Descriptions

The Council is taking 2 leases each with a term expiring after 37 years of a mixed use site comprising retail and commercial accommodation (the Property) from Aviva Investors Commercial Assets GP Limited and Aviva Investors Commercial Assets Nominee Limited as trustees for Aviva Investors REaLM Commercial Assets Limited Partnership (the Landlord). The Landlord intends to procure residential accommodation at the site of one lease (detailed in II.2.4). These works will be funded by the Landlord and the Council will not specify the works or oblige the Landlord to complete the works.Incidental to the retail/commercial lease the Landlord will also fund improvement works to that accommodation to bring it up to a good standard to sufficiently attract new tenants and retain existing tenants. As part of the arrangements Reef Estates Regen Limited (the Asset Manager) shall also provide general maintenance and management services as required under the terms of an asset management agreement.