Decision details

Agreement between CBC and GCC to undertake a land swap of Chester Walk Car Park with a portion of St Georges Road Car Park

Decision Maker: Director of Corporate Resoucres and Projects - Mark Sheldon

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

Cheltenham Borough Council will enter into the following agreement to deliver the Minster Innovation Exchange project

 

1.         Agreement between CBC and Gloucestershire County Council to undertake a land swap of Chester Walk Car Park with a proportion of St Georges Road Car Park.

Reasons for the decision:

           

At a meeting on 8th October 2019, the Cabinet agreed the following recommendations in relation to the Minster Innovation Exchange project (formally known as Workshop Cheltenham): 

 

1.         Approved the proposal for facilitating the Workshop Cheltenham project, including a tier 2 growth hub, on Chester Walk car park;

 

2.         Approved the freehold disposal of that part of St George’s Road car park (shown edged red on Plan 1) to Gloucestershire County Council as consideration for the acquisition of land at Chester Walk (shown edged on Plan 2);

 

3.         Delegated authority to the Director of Corporate Projects, in consultation with the Cabinet Member for Finance and Assets and the Head of Property and Asset Management, to settle Heads of Terms for the exchange of land referred to in recommendation 2) above and for the grant of a lease, not exceeding 10 years from the date of grant, at a rent representing the best consideration that can reasonably be achieved;

 

4.         Authorised the Borough Solicitor to enter into any legal agreements considered necessary or desirable for the Council to put into effect the recommendations in this report.

 

5.         Approved the necessary capital expenditure on works at St George’s Road car park pursuant to the land swap, as per paragraph 5.2 and delegates’ authority to the Head of Property and Asset Management to agree and implement the works with GCC.

 

 

 

In line with recommendation 2 above, having agreed initial heads of terms, both CBC and GCC officers have finalised terms of the land swap following advice from our legal advisors, One Legal.

 

This decision will enable delivery of the Minster Innovation Exchange project which will facilitate delivery of a modular building on Chester Walk car park to support the creative and Cyber tech community, house a tied 2 growth hub and be a permanent home for Cheltenham Festivals.

 

The land swap decision will unlock Government ‘Getting Building’ grant funding of £3.114m plus growth hub funding of £500k. The grant will also fund public realm enhancements in the Minster grounds.

 

The overall scheme will facilitate a significant regeneration programme and delivering enhanced the social and economic value and support the council post covid recovery strategy.

 

 

 

 

 

 

 

 

2.         Approved the freehold disposal of that part of St George’s Road car park (shown edged red on Plan 1) to Gloucestershire County Council as consideration for the acquisition of land at Chester Walk (shown edged on Plan 2);

 

3.         Delegated authority to the Director of Corporate Projects, in consultation with the Cabinet Member for Finance and Assets and the Head of Property and Asset Management, to settle Heads of Terms for the exchange of land referred to in recommendation 2) above and for the grant of a lease, not exceeding 10 years from the date of grant, at a rent representing the best consideration that can reasonably be achieved;

 

4.         Authorised the Borough Solicitor to enter into any legal agreements considered necessary or desirable for the Council to put into effect the recommendations in this report.

 

5.         Approved the necessary capital expenditure on works at St George’s Road car park pursuant to the land swap, as per paragraph 5.2 and delegates’ authority to the Head of Property and Asset Management to agree and implement the works with GCC.

 

 

 

In line with recommendation 2 above, having agreed initial heads of terms, both CBC and GCC officers have finalised terms of the land swap following advice from our legal advisors, One Legal.

 

This decision will enable delivery of the Minster Innovation Exchange project which will facilitate delivery of a modular building on Chester Walk car park to support the creative and Cyber tech community, house a tied 2 growth hub and be a permanent home for Cheltenham Festivals.

 

The land swap decision will unlock Government ‘Getting Building’ grant funding of £3.114m plus growth hub funding of £500k. The grant will also fund public realm enhancements in the Minster grounds.

 

The overall scheme will facilitate a significant regeneration programme and delivering enhanced the social and economic value and support the council post covid recovery strategy.

Alternative options considered:

The alternative option was to not enter into the agreement. This would result in the Council not having an appropriate site to deliver the Minster Innovation Exchange project which was approved by Council on 16th November 2020 and would risk losing the grant support.

Wards Affected: (All Wards);

Other reasons / organisations consulted

The Leader of the Council (Rowena Hay) was supportive of the decision.

Consultees

Legal Advice from One Legal

The Leader of the Council (Rowena Hay) was consulted on the decision.

Contact: Director of Corporate Resoucres and Projects - Mark Sheldon 01242 264123.

Publication date: 12/02/2021

Date of decision: 12/02/2021

Accompanying Documents: