Lease extension requests show vote of confidence in the future of Northampton
Northampton Borough Council will be considering extensions to the leases of two businesses in Northampton, during an upcoming Cabinet meeting on Wednesday 19 October.
It is proposed that a new 25 year lease is drawn up for the popular Abington Park Café, incorporating a request for a 25 year lease extension and to agree a licence to formalise the outdoor space used for tables and chairs, since the café’s recent extension.
In addition, it is proposed that the Council extends the ground lease of the Park Inn Hotel at a premium of £750,000 and on the same terms as the current lease. The price offered to the 146 room hotel, has been supported by valuations from two independent chartered surveyors and if agreed to at the Cabinet meeting, will secure the future of the hotel in Northampton until at least 2140.
Cllr Tim Hadland said: “With our investment in building our Enterprise Zone and Cultural Quarter attracting more people to the town it is important to provide quality places to stay and visit.