Decision details

To report on progress of work on the Grand Theatre Quarter, including, approval to the Council exchanging an Option Agreement for the sale of land at Belgrave Gardens.

Further to Minute No. 71, 21^st October 2015, the Director of City Development submitted a report providing an update on the progress made in negotiations for the disposal and development of land at Belgrave Gardens and which also recommended that the Council exchanged an Option Agreement for the sale of such land.

Following consideration of Appendix 1 to the submitted report, together with the associated plan, designated as exempt from publication under the provisions of Access to Information Procedure Rule 10.4(3), which was considered in private at the conclusion of the meeting, it was

RESOLVED –

(a)  That approval be given to the Council exchanging an Option Agreement with Wade Lane Developments Limited for the sale of land at Belgrave Gardens on the terms as detailed within exempt appendix 1 to the submitted report;

(b)  That approval be given for officers to negotiate the final terms for the disposal of Council owned land at Belgrave Gardens, and also for the disposal of the Council’s freehold reversionary interest in Belgrave House, Commerce House and Warwick House, and that final terms for the disposals be approved by the Director of City Development under delegated powers; and

(c)  That subject to an encouraging response to the Expressions of Interest by the Heritage Lottery Fund (HLF), the necessary authority be delegated to the Director of City Development, in liaison with the Executive Member (Regeneration, Transport and Planning), to submit a Stage 1 bid to the HLF in support of a heritage-led regeneration programme for the Grand Quarter.

Briefings

Executive Members/Ward Members