Purpose

The purpose of this report is to seek approval
for an extension to the current exclusivity agreement and revised
sale price, to facilitate the progression and completion of the
land disposal at Church Street / West Street, Prescot.
 

Decision

The Executive Director (Regeneration and
Economic Development) in consultation with the Cabinet Member for
Regeneration and Economic Development hereby:
 
i)              
Approves the proposed disposal of land at Church Street / West
Street, Prescot on the revised sale price set out within the
report;
ii)             
Approves the extension of the existing exclusivity agreement to the
selected party on terms detailed in the report; and
iii)           
Authorises the Head of Legal Services to complete the necessary
legal documentation.
 

Alternative options considered

The Council could decide not to proceed with
the proposed disposal at the revised sale price and retain the
land.  This option was rejected as the
Council would miss the opportunity to deliver the redevelopment of
an opportunity site in accordance with the Prescot Town Centre
Masterplan, wider town centre regeneration objectives and a
potential capital receipt.