Issue - meetings

This report recommends the procurement of specialist property regeneration, financial and legal advice to support the Council’s future negotiations to facilitate the wider redevelopment of the Council’s Hook Road Car Park and SGN Site.

Following consideration, the Committee unanimously resolved to:

(1)       Approve a budget of up to £150,000 to cover the initial costs of the appraisal and feasibility work, to be funded from the Corporate Projects Reserve;

(2)       Note that the Director of Environment, Housing & Regeneration and Head of Property & Regeneration, in consultation with the Chief Finance Officer and Chief Legal Officer, have express authority to take all necessary actions further to the above decisions being made that commit resources, as is necessary and appropriate.

(3)        Note a report will be brought back to Committee at the earliest opportunity following completion of the work.

The Committee received a report recommending the procurement of specialist property regeneration, financial and legal advice to support the Council’s future negotiations to facilitate the wider redevelopment of the Council’s Hook Road Car Park and SGN Site.

The following matter was considered:

a)            Timescales. In response to a question from a member, the Head of Property and Regeneration informed the Committee that Zencap were not scheduled to take possession of the SGN site until September 2025.

Following consideration, the Committee unanimously resolved to:

(1)      Approve a budget of up to £150,000 to cover the initial costs of the appraisal and feasibility work, to be funded from the Corporate Projects Reserve;

(2)      Note that the Director of Environment, Housing & Regeneration and Head of Property & Regeneration, in consultation with the Chief Finance Officer and Chief Legal Officer, have express authority to take all necessary actions further to the above decisions being made that commit resources, as is necessary and appropriate.

(3)          Note a report will be brought back to Committee at the earliest opportunity following completion of the work.