Purpose

This is an updated report to
facilitate a specific demand for grade ‘A’ office
accommodation in the Town Centre and to provide the financial and
physical resources required to construct a building of circa
4,920m2 NIA to accommodate this demand once the client
has signed the Agreement for Lease for the land and the Funding
Agreement to construct the new building.
 
It updates the Executive
Decisions EX15-2024, EX13-2025 and Officer Non Key Executive
Decisions of the 26 June 2023, 3 November 2023 and 18 March
2024.
 

Decision

To authorise the Head of Legal
Services to enter into and exchange on the Agreement for Lease and
subsequently grant the Lease with the third party interested in
leasing the proposed land on the former Apollo site off Talbot
Road.
 
To approve the terms of the
fourth Supplemental Deed Agreement with Muse Places Limited for
delivery of the Office Accommodation development on the land on the
former Apollo site off Talbot Road as part of the Talbot Gateway
Project (Central Business District) Phase 5.
 
To approve the terms of the
Forward Funding Agreement with the Interested Party for the
development of the office accommodation and associated
infrastructure.
 
To approve the terms of the
Forward Funding Agreement with Muse Places Limited for the
development of the office accommodation and associated
infrastructure.
 
To authorise the expenditure
and contracts to facilitate the above.