Decision Maker: Cabinet

Outcome: Decision Made

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: July 10, 2025

Purpose: To present the RVP Feasibility Report and its recommendations to revitalise, repurpose and further develop the asset.

Content: RESOLVED – That Full Council be recommended:   That the report and the engagements results, feasibility report and economic assessment in the open appendices (Appendix A-F) and Exempt Appendices A and B be approved.   That the design and delivery of the Combined Option 1 – cinema and leisure led mixed use development on Ely Court (with repurposed Palm Court and residential development on Market Square) which delivers the majority of the Strategic Objectives be approved.   That an additional £450,000 to bring the current RVP Capital Reserve Budget to £3.3 million and for the S151 Officer to determine the source of funding in consultation with the Cabinet Member for Finance and Property which can include external borrowing be approved.   That delegated authority be given to the Head of Economic Development and Property, and S151 Officer, in consultation with the Cabinet Members for Economic Development and Finance and Property be approved to:   move to RIBA Stage 2 and deliver the subsequent stages up to and including RIBA Stage 4 for all or parts of the selected combined option; progress formal submission of planning applications to the Local Planning Authority for the selected combined option; submit details to discharge the conditions of all planning matters and conditions and statutory requirements; progress stopping up orders and such other actions as required to enable the selected combined option; Approve the use of the capital budget of £3.3m for the professional consultancy fees and ancillary costs to deliver the selected combined option; Finalise procurement and award contracts to design, develop and deliver the selected combined option; Market and negotiate all necessary legal transactions to enable and deliver the selected combined option including but not limited to disposals, pre-lets and lettings for prospective occupiers; Prepare the disposal of Market Square determining timing and terms; Endorse the development of a communications and engagement strategy focussed on the residents of the borough of Tunbridge Wells.   That delegated authority be given to the Monitoring Officer and S151 Officer, in consultation with the Cabinet Member for Economic Development and the Cabinet Member for Finance and Property to complete all necessary legal formalities and to negotiate and complete all necessary agreements, deeds and documents arising from or ancillary to the delivery of the selected scheme be approved. That the cross-party Investment Advisory Panel is fully informed as appropriate for delivery of the selected scheme as part of its overseeing this asset in accordance with the IAP’s terms of reference be approved. To agree in principle to the use of TWBC’s compulsory purchase powers to deliver the scheme if required be approved. That all professional consultancy fees identified in the report are spent at risk and that they will be abortive costs if the development is not taken forward at a later date be noted. REASON FOR DECISION:  To deliver on a priority project that would support the Vibrant Economic strategic objective as identified in the Strategic Plan.