Purpose

To seek approval to
enter into a one-to-one transaction made under the council’s
land disposal framework, on regeneration grounds. The land to be
sold is in a key strategic location for developing office space
adjacent to land already acquired by the council and next to the
Phoenix Cinema. It also reserves the land required to create an
access link to the Phoenix Cinema from St George Street, towards
which Local Transport Grant from the Department for Transport has
already been approved. The Collaboration Agreement aligns HE to
these objectives and provides additional funding to progress the
overall objective of comprehensive regeneration.
 

Decision

To:
 
(i)  enter into the collaboration agreement with Homes
England as set out in the report,
(ii)  enter into a land sale contract to sell the site
shown in Plan 1 attached to Homes England for
£1.15m,                
(iii) enter into a
5-yr lease with Homes England
(iv) add £300k
(Plus VAT as applicable) as an immediate start to the 2026/27
general fund capital programme for costs in gaining planning
consent for the site, financed by Homes England grant.
 

Reasons for the decision

Entering into
Collaboration Agreement with Homes England which includes the
disposal of a site to this strategic regeneration partner