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Decision details
Site at West Marina
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decisions:
Peter Grace, Assistant Director, Financial Services & Revenues presented a report on the site at west Marina. This was to determine a preferred bidder and agree the way forward in order to make a recommendation to cabinet in the autumn to accept or reject a developer for the site.
He stated that at Cabinet on 2 November 2015 it was agreed to add the site to the Land and Property Disposal Programme and to appoint agents to market the site.
Full marketing commenced in June 2017 and the deadline for the first round of informal tenders was 2 March 2018. A total of four bids from three developers/joint developers were received by the required deadline.
After analysing the bids it was agreed to proceed to a second and final round of bidding with Charterhouse and Countygate/Sunley. The bidders were invited to submit bids on the basis of a Capital sum or alternatively revenue streams based upon the Council retaining ownership of some parts of the development. The option remaining that the Council further invests its own monies for housing acquisitions as identified in the current Capital programme.
Councillor Chowney proposed approval of the recommendations which was seconded by Councillor Fitzgerald.
RESOLVED (by 6 votes for, 1 against) that:
1. To reject the offer from Charterhouse; and
2. To agree County Gate/Sunley are the preferred bidder and to instruct our agents to negotiate further to agree Heads of Terms in order to make a recommendation to Cabinet.
The reasons for these recommendations were:
The site has been vacant for some 30 years and the Council has looked to develop the site a number of times over the period. In the last few years, with changing economic circumstances, improvements to property values, and a number of reports and investigations to de-risk the site, the opportunity is available to develop the site and provide a mixed development including 152 residential units (25% affordable) as identified in the local plan.
The actions taken over the last three years have managed to identify, engage and retain the interest of major development companies resulting in a viable and attractive proposition to transform the West Marina site into a destination point in line with the objectives of the seafront strategy, provide enhanced leisure opportunities and see much needed investment in the area. The Council’s agent, Carter Jonas, recommends proceeding with the offer from County Gate/Sunley.
Report author: Peter Grace
Publication date: 12/08/2019
Date of decision: 03/09/2018
Decided at meeting: 03/09/2018 - Cabinet
Accompanying Documents:
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