1 November 2103

Update on Ground Leases at Cornwall Park

The Cornwall Park Trust Board said today that it was pleased at the very good progress that had been made in settling lease renewals.

Out of 94 leases for renewal since 2005 only six remained outstanding and were expected to be settled shortly.

The Trust Board has been examining ways of making the leases more modern, while still meeting the need to contribute on commercial terms to the running of the park. As previously indicated it will be appointing a lessee reference group to assist in this.

“As set out in the original gifting document for the park by Sir John Logan Campbell, the income from these ground leases goes straight back into running the park, which has no government or Council funding,” Michael Ayrton, Park Director said.

“We are very pleased to have now settled nearly all the leases in the current round. We will continue to work with lessees to ensure the leases can work as well as possible both for them and for the ongoing upkeep and future development of the park.”

ENDS

© Scoop Media