Agenda item

Report of the Cabinet Member Finance

**Please note that should members wish to discuss exempt elements of the report they will need to go into closed session under part 1, Schedule 12A of the Local Government Act 1972

The Cabinet Member Finance introduced the report and explained that this was an example of how officers had been thinking creatively and proactively in investigating opportunities for the future of the town centre. He explained that Gloucestershire County Council was seeking to sell the former Shopfitters Site at St George’s Place along with open land at Synagogue Lane, which CBC had been granted rights to use as a staff car park. CBC officers had negotiated with GCC to acquire the freehold of both sites in exchange for a capital sum and transfer of land that had been leased to GCC for use as a school playground associated with St John’s School.

The Cabinet Member explained that as the transaction had yet to be completed, the detailed figures were commercially sensitive but the broad principles of the transaction were in the public domain. He explained that the acquisition of the site would realise to the Council a substantial brownfield site suitable for development in the short-term as off street public car parking, and offer wider opportunities thereafter for future development of the site in part or whole. The benefits would be to clear the former Shopfitters site which was currently derelict, provide the opportunity to merge the Chelt Walk and the Synagogue Lane car parks thereby generating additional income, provide an opportunity for regenerating that particular part of the town centre and would allow the Council to assemble a significant town centre site with substantial development potential which may include options to build out new Municipal Offices and other public facilities. He thanked officers for their hard work in their negotiations with the County Council.

The Leader of the Council added that it was right to make the most of opportunities when they arose. He clarified that Council would be recommended to authorise the expenditure to cover the cost of acquisition, planning application, demolition, site remediation and construction of a temporary surface public car park and all ancillary costs.

RESOLVED THAT

1. The Head of Property & Asset Management be authorised to proceed with the following, in accordance with the terms outlined in the Exempt Appendix III which accompanies this report:

1.1 The acquisition from GCC of Synagogue Lane and the former Shopfitters site on St Georges Place (as outlined in red on the plan accompanying this report in Appendix II).

1.2 The transfer of former car park land at St James Street which is currently leased to GCC

1.3 The submission of an appropriate planning application to demolish the buildings and perimeter walls of the former Shopfitters site, and obtain change of use to a public car park of all the land outlined in red on the plan referred to above.

1.4 In consultation with Cabinet Member Finance  to approve additional, alternative or amended heads of terms provided the figures set out in the Appendices are not exceeded

1.5 And that the Borough Solicitor be authorised to enter into any deeds and documents (including ancillary provisions) she considers necessary or advisable to carry into effect the terms of the transaction

2. Council be recommended to :

Set aside the amount of useable capital receipts (outlined in the Exempt Appendix III) to cover the cost of acquisition, planning application, demolition, site remediation and construction of a temporary surface public car park and all ancillary costs.