Issue - meetings

To consider the report of the Cabinet Member for Regeneration and Economy seeking approval for the disposal of the Council’s freehold interest in the Blackfriars Site.

RESOLVED:

1.    Authority be delegated to the Head of Regeneration and Economic Development (in consultation with the Cabinet Member for Regeneration & Economy) to dispose of the freehold interest in that part of the Blackfriars site shown edged red on the plan (but excluding the area hatched) for the best consideration reasonably obtainable (as confirmed by an external specialist valuer) to allow the construction of phase one of the student accommodation.

2.    Authority be delegated to the Head of Regeneration and Economic Development in consultation with the Cabinet Member for Regeneration & Economy to decide on the best use of phase two including if appropriate to agree the terms of an option agreement to allow the future disposal of the remainder of the Blackfriars site (shown on the attached plan as the hatched area).

3.    Authority be delegated to the Property Manager to agree terms with the developer of Phases I and 2 over the temporary use of the entire site during phase one of the development and the return of undeveloped area so it may be used as a car park by the Council during the term of the option.

4.    Authority be delegated to the Property Manager to agree the terms of any ancillary documents the Council Solicitor (following consultation with the Property Manager) considers necessary or desirable to enable the transaction to proceed.

Cabinet considered the report of the Cabinet Member for Regeneration and Economy which sought approval for the disposal of the Council’s freehold interest in the Blackfriars Site.

Councillor James explained that the site was earmarked for redevelopment as part of the SRDWA (South West Regional Development Agency) agreement, as outlined in the report. He stated that the proposed student accommodation would attract students to the City Centre and enhance the daytime and night-time economies and enable the Gloucestershire University’s Oxstalls Campus development to go ahead.

In response to Councillor Norman’s query whether the Gloucestershire University’s Oxstalls Campus development would be completed by September 2018 target date, Councillor James provided reassurance that the target date was achievable but acknowledged that is was a tight timeline.

RESOLVED:

1.    Authority be delegated to the Head of Regeneration and Economic Development (in consultation with the Cabinet Member for Regeneration & Economy) to dispose of the freehold interest in that part of the Blackfriars site shown edged red on the plan (but excluding the area hatched) for the best consideration reasonably obtainable (as confirmed by an external specialist valuer) to allow the construction of phase one of the student accommodation.

2.    Authority be delegated to the Head of Regeneration and Economic Development in consultation with the Cabinet Member for Regeneration & Economy to decide on the best use of phase two including if appropriate to agree the terms of an option agreement to allow the future disposal of the remainder of the Blackfriars site (shown on the attached plan as the hatched area).

3.    Authority be delegated to the Property Manager to agree terms with the developer of Phases I and 2 over the temporary use of the entire site during phase one of the development and the return of undeveloped area so it may be used as a car park by the Council during the term of the option.

4.    Authority be delegated to the Property Manager to agree the terms of any ancillary documents the Council Solicitor (following consultation with the Property Manager) considers necessary or desirable to enable the transaction to proceed.