Purpose

HBC are
intending to acquire the freehold of Block C Market Parade and
former Star Inn, Havant (also known as 35-51 (odd) Market Parade
along with 59 North Street Car Park).
The associated land acquisition is of strategic importance to the
Regeneration of Havant. The purpose of the acquisition is to obtain
control of the land so that the existing building can be demolished
and a new modern gateway to Havant can be established delivering on
the vision for the town’s regeneration plans. The
regeneration plans extend from the public service plaza site down
to the former Bulbeck multistorey car park, however due to its
location Market Parade is seen as potential catalyst for the
regeneration as a whole.
 
In the
interim, as series of meanwhile uses are planned:
·      
The existing residential units will be used to meet
demand for temporary housing and thus reduce pressures on the costs
of providing such accommodation. In addition it will contribute towards Aim 1 of the
Councils Housing Strategy 2024-2029 seeks to 'prevent homelessness
and help those who are homeless to move on to stable
solutions';
·      
The commercial units will continue to be let, thus
providing a revenue stream for the Council;
·      
The car park will be operated by the Parking Team,
thus providing another source of income for the Council.
 
 

Decision

Decision
to spend £3,375,000 from the Regeneration Reserve to acquire
Block C Market Parade and former Star Inn, Havant.