Agenda item

BCP FuturePlaces Ltd, (“FuturePlaces”) a wholly owned Urban Regeneration Company (URC) was set up with the fundamental purpose to drive “Place Making”, regeneration and property market transformation both across key sites owned by the Council and the wider area to support the aspirations set out in the Council’s Big Plan.

The FuturePlaces business plan approved by Cabinet in June 2022 lists the key sites the company has been tasked with progressing the regeneration of, this includes the former Poole and Christchurch Civic Centres following their decommission as the result of local government reorganisation and the creation of BCP Council.

This report sets out the outline business cases (OBCs) for each of these sites and seeks approval in principle to progress phased redevelopment of the sites for the preferred uses identified and progress with the preparation of separate full business cases for each of the proposed uses.

This is as a result of the OBCs indicating that the value of the sites can be optimised by sequencing development to ensure value uplift benefits are realised and momentum is maintained.

The outline business cases are based on HM Treasury Green Book guidance.

[PLEASE NOTE: Should the Cabinet wish to discuss the detail of the confidential appendices the meeting will be required to move into Confidential (Exempt) Session]

It is RECOMMENDED that Cabinet:

(a)             Approves the OBC for the former Christchurch Civic Centre site as set out in Appendix A to this report endorsing the recommended option contained therein;

(b)            Ratifies previous report decisions to declare the asset surplus to requirements and notes the potential to phase the redevelopment of the site to enable the hotel use to progress ahead of residential plans for the reasons outlined in this report;

(c)             Agrees to pay FuturePlaces for its development advice, services and costs associated with the preparation of the OBC totalling £169k and to include the scheme in the Council’s Capital Investment Programme.

Cabinet RECOMMENDS that COUNCIL:

(d)           Agrees to move the project to Full Business Case stage and commit costs estimated at £969k.

Voting: Unanimous

Portfolio Holder: Leader of the Council and Portfolio Holder for Development, Growth, Regeneration and Transformation

Reason

To contribute to the Council’s Corporate vision, specifically helping to create dynamic places, investing in the homes our communities need, and delivers against the Big Plan: Act at Scale.

FuturePlaces was formed to ensure BCP Council has the capacity, expertise, and resources to drive investment in regeneration and unlock value from major Council owned sites; it will also enable BCP Council to ensure that we deliver new homes and create well designed, local neighbourhoods.

The Leader of the Council and Portfolio Holder for Development, Growth, Regeneration and Transformation presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'G' to these Minutes in the Minute Book.

Cabinet was advised that BCP FuturePlaces Ltd, (“FuturePlaces”) a wholly owned Urban Regeneration Company (URC) was set up with the fundamental purpose to drive “Place Making”, regeneration and property market transformation both across key sites owned by the Council and the wider area to support the aspirations set out in the Council’s Big Plan.

In relation to this Cabinet was informed that the FuturePlaces business plan approved by Cabinet in June 2022 listed the key sites the company had been tasked with progressing the regeneration of including the former Poole Civic Centre following its decommission as the result of local government reorganisation and the creation of BCP Council.

Cabinet was advised that the report set out the outline business case (OBC) and highlights FuturePlaces recommended use for this site to be developed for hotel and residential use.

Further to this Cabinet was informed that whilst the OBC considers the overall viability of the recommended option based on high level assumptions, the full business case (FBC) will confirm the exact design, time, cost and quality expectations as well as the proposed delivery pathway and overall affordability.

In relation to this Cabinet was advised that it is only at FBC stage that firm consideration can be given as to whether it is still best to progress with the redevelopment proposal and the necessary commitment and funding approvals sought from the Council.

Cabinet was informed that it was required to review the options set out in the OBC and consider if the recommended option is the most appropriate and affordable, and to authorise FuturePlaces to progress with the preparation of a full business case.

In addition Cabinet was advised that the outline business cases had been prepared in accordance with HM Treasury Green Book guidance.

It is RECOMMENDED that Cabinet: -

(a)             Approves the Outline Business Case for the former Christchurch Civic Centre site as set out in Appendix A to this report endorsing the recommended option contained therein;

(b)            Ratifies previous report decisions to declare the asset surplus to requirements and notes the potential to phase the redevelopment of the site to enable the hotel use to progress ahead of residential plans for the reasons outlined in this report;

(c)             Agrees to pay FuturePlaces for its development advice, services and costs associated with the preparation of the OBC totalling £169k and to include the scheme in the Council’s Capital Investment Programme.

Cabinet RECOMMENDS that COUNCIL:

(d)           Agrees to move the project to Full Business Case stage and commit costs estimated at £969k.

Voting: Unanimous

Portfolio Holder: Leader of the Council and Portfolio Holder for Development, Growth, Regeneration and Transformation

Reason

To contribute to the Council’s Corporate vision, specifically helping to create dynamic places, investing in the homes our communities need, and delivers against the Big Plan: Act at Scale.

FuturePlaces was formed to ensure BCP Council has the capacity, expertise, and resources to drive investment in regeneration and unlock value from major Council owned sites; it will also enable BCP Council to ensure that we deliver new homes and create well designed, local neighbourhoods.