The report doesn't mention that the car park is also part of the lease they've given up, and generates about £100,000/pa. The council spent £380,000 doing it up just two years ago. However, they now won't have to spend £50,000 doing up the lifts.
An interesting part of the council's report states: "Waitrose, the Fund’s anchor tenant, have indicated that they are unlikely to renew their existing 25 year lease which terminates in 2016 if improvements to the car park and lifts are not made. In order for a redevelopment to be successful the Fund proposes to upgrade and extend the car park; improve access from the car park to the shops and introduce a pay on exit car parking scheme.
" (The "Fund" referred to is owner Diageo).
Later: "The fund is proposing to redesign the layout of the Centre; provide an improved and extended public car park which will operate on a pay on exit charging scheme, travelator access from the car park to the Centre and new public conveniences.
Sounds like big changes are on the way at Bircherley Green.
Full report athttp://online.eastherts.gov.uk/moderngo ... 0Lease.pdf