Decision

1. That selection of Sea Lanes as the preferred bidder for the redevelopment of the former RPLC site be approved.
2. That the entering into of an Option Agreement with Sea Lanes for a period of 12 months, with provision for an extension in exceptional circumstances be approved, to enable the preparation and submission of a planning application for the proposed development.
3. That the entering into of an Agreement for Lease with Sea Lanes be approved, subject to the terms and conditions of the Option Agreement being satisfactorily met, to allow time for planning consent to be secured and funding arrangements to be confirmed.
4. That the grant of a long leasehold interest of 250 years to Sea Lanes be approved, subject to the terms and conditions of the Agreement for Lease being satisfactorily met.
5. That authority be delegated to the Strategic Director, in consultation with the Director of Legal Services, to negotiate and agree the final terms and enter into all necessary legal agreements required to give effect to the above recommendations.