Purpose

To approve the Council's intention to proceed with a box park.

Decision

1. That authority be delegated to the Leader of the Council: Thriving Economy and the Cabinet Member for Resources in consultation with the Director of City Economy and Partnerships and Section 151 Officer to:

            i.           Approve that the Council enter into a pre-construction contract with the successful development partner to progress design, enabling works and to provide construction cost certainty for the new City Centre Box Space.

          ii.        Approve that the Council enter into the main construction contract with the successful development partner.

         iii.       Approve the Council agreeing and entering into Heads of Terms (HoTs) for a lease and any other ancillary documents with the successful service operator.

         iv.       All of the above paragraphs (i)-(iii) has a budget ringfenced within the Revolving Capital Investment Fund budget. If any of the above exceeds this value, then this would be subject to an additional approval.

          v.       Approve that the requirements of the Subsidy Control Act 2022 have been adhered to.

         vi.       All of the above paragraphs (i)-(iv) would be subject to the appropriate legal and regulatory requirements, including compliance with the Procurement Act 2023 and the Subsidy Control Act 2022.

1. That the Council’s Chief Operating Officer (or such other authorised officer) be authorised to enter into all legal agreements as may be necessary in relation to the matters related to the City Centre Box Space.
2. That it be noted, the delivery of a new city centre box space / food hall would contribute to the city’s economic Good Growth Strategy and new Evening and Nighttime Economy Strategy, enhancing vibrancy by catering for an estimated 400,000 - 500,000 visitors a year.
3. That it be noted, Cabinet, on 18 February 2026, in the Our Future Council - Investing in Our City - Capital Investment Programme Quarter Three Review and Budget Strategy report, delegated authority to the Cabinet Member for Resources, in consultation with the Section 151 Officer, to approve the allocation of the Revolving Capital Investment Fund budget to individual projects to ensure that priority interventions can be progressed in a timely manner.