Issue - meetings

RECOMMENDED that Council: -

(a)        grant approval for the surrender of the existing head lease and regrant of a long new lease to facilitate the head lessee’s proposed development in accordance with the Heads of Terms set out in the exempt report attached at appendix 1; and

(b)        delegate authority to the Director of Finance in his capacity as Corporate Property Officer, the Director of Law and Governance and the Portfolio Holder for Finance to finalise the detailed terms of the Agreement for surrender and new lease.

Councillor David Brown, the Portfolio Holder for Health and Wellbeing presented the report on behalf of the Portfolio Holder for Finance and outlined the recommendations as set out on the agenda.

Councillor Andy Martin seconded the motion.

RESOLVED: that Council:-

a)    grant approval for the surrender of the existing head lease and regrant of a long new lease to facilitate the head lessee’s proposed development in accordance with the Heads of Terms set out in the exempt report attached at appendix 1; and

b)    delegate authority to the Director of Finance in his capacity as Corporate Property Officer, the Director of Law and Governance and the Portfolio Holder for Finance to finalise the detailed terms of the Agreement for surrender and new lease.

Voting: Nem.con

This report seeks approval to take a surrender of the head lessee’s existing head lease and regrant a long lease to facilitate the delivery of the head lessee’s planning permission to demolish the existing buildings and erect a mixed-use development comprising 128 residential apartments (Use Class C3) together with nine ground floor commercial units (Former Use Classes A1, A3 or B1a, now Class E) and associated ancillary works including car and cycle parking.

The site forms part of the Town Centre Regeneration Area in the Local Plan and is earmarked by the council as one of the key opportunities to regenerate the town centre and make a step change in perceptions of the town and its overall offer.

 A refurbishment alone of this tired 1960’s building will not succeed in delivering this aim.

[PLEASE NOTE: Should the Cabinet wish to discuss the detail of the exempt appendices at Appendix 1-4 it will be necessary to exclude the press and public and move into Confidential (Exempt) session]

RECOMMENDED that Council: -

(a)       grant approval for the surrender of the existing head lease and regrant of a long new lease to facilitate the head lessee’s proposed development in accordance with the Heads of Terms set out in the exempt report attached at appendix 1; and

(b)      delegate authority to the Director of Finance in his capacity as Corporate Property Officer, the Director of Law and Governance and the Portfolio Holder for Finance to finalise the detailed terms of the Agreement for surrender and new lease.

Voting: Unanimous

Portfolio Holder: Finance

Reasons

The proposal will:

·      Contribute to the council’s corporate strategy priorities.

·      Optimise the use of a public land asset in accordance with its allocation in the Local Plan with good certainty of development delivery.

·      Generate a capital receipt to support the funding of the Council’s Transformation Investment Programme.

·      Help to kickstart Poole Town Centre North regeneration through the addition of attractive new homes and a vibrant retail parade of businesses.

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

Cabinet was advised that the report sought approval to take a surrender of the head lessee’s existing head lease and regrant a long lease to facilitate the delivery of the head lessee’s planning permission to demolish the existing buildings and erect a mixed-use development comprising 128 residential apartments (Use Class C3) together with nine ground floor commercial units (Former Use Classes A1, A3 or B1a, now Class E) and associated ancillary works including car and cycle parking.

In relation to this Cabinet was informed that the site forms part of the Town Centre Regeneration Area in the Local Plan and is earmarked by the council as one of the key opportunities to regenerate the town centre and make a step change in perceptions of the town and its overall offer.

Further to this Cabinet was advised that a refurbishment alone of this tired 1960’s building will not succeed in delivering this aim.

RECOMMENDED that Council: -

(a)        grant approval for the surrender of the existing head lease and regrant of a long new lease to facilitate the head lessee’s proposed development in accordance with the Heads of Terms set out in the exempt report attached at appendix 1; and

(b)        delegate authority to the Director of Finance in his capacity as Corporate Property Officer, the Director of Law and Governance and the Portfolio Holder for Finance to finalise the detailed terms of the Agreement for surrender and new lease.

Voting: Unanimous

Portfolio Holder: Finance

Reasons

The proposal will:

·      Contribute to the council’s corporate strategy priorities.

·      Optimise the use of a public land asset in accordance with its allocation in the Local Plan with good certainty of development delivery.

·      Generate a capital receipt to support the funding of the Council’s Transformation Investment Programme.

·      Help to kickstart Poole Town Centre North regeneration through the addition of attractive new homes and a vibrant retail parade of businesses.