Issue - meetings

Acquisition of Kings Park Indoor Bowls Club (Kings Park)

Meeting: 14/04/2021 - Cabinet (Item 323)

323 Acquisition of Bournemouth Indoor Bowls Centre (Kings Park) pdf icon PDF 276 KB

The MHCLG Towns Investment Fund has provided an opportunity for the Council to acquire the leasehold interest in the Bournemouth Indoor Bowls Centre, so as to better manage the site for the provision of indoor bowls and for wider community benefit, along with securing the tenancy of Skills and Learning for the long-term. 

Cabinet on 16th December 2020 approved the principle of acquiring the leasehold interest. This report details the Business Case including the financial implications and risks and concludes that the overall proposal is viable, should the lease be purchased with Towns Investment Fund or Prudential Borrowing pending the outcome of the Council’s funding application to MHCLG.

Additional documents:

Decision:

RESOLVED that Cabinet: -

(a)           subject to satisfactory completion of due diligence agrees to the Council exchange contracts on the purchase of the Bournemouth Indoor Bowls Centre (Kings Park) lease, funded by Towns Investment Fund Accelerator Funding; and

(b)           agrees to complete the purchase of the lease for the Bournemouth Indoor Bowls Centre (Kings Parks) either:

                    (i)           utilising Towns Investment Funds grant (subject to approval of the Full Business Case by MHCLG funded or;

                   (ii)           utilising Prudential Borrowing; and

                 (iii)           delegates authority to the Corporate Property Officer in consultation with the Portfolio Holder, Monitoring Officer and S151 Officer to finalise the detailed terms of the acquisition and funding model.

Voting: Unanimous

Portfolio Holder: Regeneration, Economy and Strategic Planning

Minutes:

The Portfolio Holder for Regeneration, Economy and Strategic Planning presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'C' to these Minutes in the Minute Book.

Cabinet was advised that the MHCLG Towns Investment Fund has provided an opportunity for the Council to acquire the leasehold interest in the Bournemouth Indoor Bowls Centre, so as to better manage the site for the provision of indoor bowls and for wider community benefit, along with securing the tenancy of Skills and Learning for the long-term.  And further to this Cabinet was reminded that Cabinet on 16th December 2020 approved the principle of acquiring the leasehold interest and that this report details the Business Case including the financial implications and risks and concludes that the overall proposal is viable, should the lease be purchased with Towns Investment Fund or Prudential Borrowing pending the outcome of the Council’s funding application to MHCLG.

Councillor Farquhar addressed Cabinet raising questions on the following areas on behalf of a resident and member of the bowls club;

·                Costs relating to the purchase back of the lease

·                How many existing staff anticipated will be TUPE’d

·                The ownership, licensing and management of the existing bar and café

·                Anticipated numbers of staff to be hired and their employer and rights

·                Dilapidation costs

·                Due diligence in inspection and surveys prior to acquisition

·                The date by which the exempt information would become a matter of public record

·                Rights of existing members

·                Anticipated Skills & Learning offering in line with Planning

The Portfolio Holder advised that an email had been sent to Councillor Farquhar responding to the areas raised and that the report presented a commitment to bowls in the future.

RESOLVED that Cabinet: -

(a)           subject to satisfactory completion of due diligence agrees to the Council exchange contracts on the purchase of the Bournemouth Indoor Bowls Centre (Kings Park) lease, funded by Towns Investment Fund Accelerator Funding; and

(b)           agrees to complete the purchase of the lease for the Bournemouth Indoor Bowls Centre (Kings Parks) either:

                    (i)           utilising Towns Investment Funds grant (subject to approval of the Full Business Case by MHCLG funded or;

                   (ii)           utilising Prudential Borrowing; and

                 (iii)           delegates authority to the Corporate Property Officer in consultation with the Portfolio Holder, Monitoring Officer and S151 Officer to finalise the detailed terms of the acquisition and funding model.

Voting: Unanimous

Portfolio Holder: Regeneration, Economy and Strategic Planning