Purpose

To consider potential land acquisitions and assembly and provide an update in relation to North Street Quarter.

Decision

(Key Decision):

1)    To note the update on asset devolution, including ongoing discussions with Town and Parish Councils and other relevant third parties on assets as listed in Appendix 1 to the Cabinet Report.

2)    To agree the sale of the Council’s original landholding at the North Street Quarter (NSQ) site (shown as Plot A in Appendix 2 to the Cabinet Report), subject to agreeing Heads of Terms (a draft is set out in exempt Appendix 3 to the Cabinet Report).

3)    To delegate authority to the Deputy Chief Executive, in consultation with the Leader of the Council and Head of Legal Services, to finalise the North Street Quarter (NSQ) Heads of Terms, complete negotiations with a prospective purchaser, and enter into a sale agreement with this party, and to complete all ancillary documents.