Purpose

To approve £115k capital budget for the redevelopment of the Colonnades, Undercroft and vaults at Grand Parade (previously Grand Parade & Undercroft and henceforth known as Grand Parade Colonnades) in line with the approved Bath Central Riverside Outline Business Case (OBC) and policy SB2 of the Local Plan.

This will fund an initial package of capital works which will improve and enhance the assets, make the site safe and secure, allow access for the public and facilitate a programme of WECA revenue funded pilot activities. The pilots will test the commercial use of the space e.g. hospitality, events and arts uses providing an opportunity to generate income whilst work to fully develop the assets is scoped.

Decision

To approve capital budget of £115k for the Bath Central Riverside capital programme funded by third party contribution.

Alternative options considered

Without a small level of capital investment the site cannot be made safe and accessible and it will remain vacant as a deteriorating asset.

Should the third party funding not be utilised, it cannot be allocated to another project as it is tied to this location so there is no saving