Issue details

Bid Panel – It was a very difficult recommendation to make. The final 3 bids were all very strong, in

different ways. It was a good problem to have. The bid panel are aligned that the Hotel bid is the

stronger bid when considered against the Cabinet / Council Paper July 23.

Project Board – agreed it is a very difficult decision to reach. The final 3 submissions and bids were

all very strong in their own right but in different ways. The board are aligned that the Hotel bid is the

stronger bid when considered against the Cabinet / Council Paper July 23.

Professional advisors – are aligned with the decision and agree it was very close call at the end. Two

of the final three remain strong contenders after passing all initial due diligence stages. It was on

their advice, to help aid the decision making process, to revert back to the original decision to sell

(the cabinet / council papers) to ensure the decision met the objectives of the July 23 papers, thus

achieving ‘best value’.

Stakeholders – Due to the commercial sensitivities involved, as well as the potential impact on the

interests of bidders and our own, we are limited in the information that can be shared with

stakeholders regarding the bids received. Stakeholders include, but are not limited to, members,

staff, the Civic Society, Historic England, tenants, the senior leadership team, and the Cheltenham

BID. We have been providing regular updates to stakeholders about the steps being taken, our

progress, and the overall timeline. We share as much detail as possible without breaching

commercial confidentiality or protocols. Although some bidders have chosen to share information via

social media, that information belongs to them, and they retain the intellectual property rights.

Updates and engagement opportunities have been made available through various channels,

including email, slide shows, tours, social media, traditional media, verbal updates (in person or by

phone), and meetings. The general feedback indicates that stakeholders appreciate the level of

engagement, finding the content relevant and interesting and understand why more cannot be

shared.

The Council is committed to encouraging the preferred party to reach out to stakeholders as early as

possible to share insights and better understand the proposals.