Cornwallis Street Car Park - Potential Development
Decision Maker: Cabinet
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: No
To consider the potential development of a hotel on Cornwallis Street Car park (Council owned).
1. Agree to market the site, in accordance with EU procurement rules, on the basis that the Council develops the site for a hotel operator and lets the site on a long lease (20 years or more). The works only to commence once lease terms are agreed.
2. Agree to include the potential development of the site, at an estimated cost of £7m within the Capital programme when determining the Capital Programme, Capital Strategy, and Treasury Management Strategy as part of the 2020/21 budget setting process.
3. Agree to undertake the surveys required now for the subsequent development of the site at an estimated cost of up to £30,000 - funded from the General Reserve.
4. Agree to appoint an external legal firm now to draw up the procurement documents and necessary legal documentation at an estimated cost of up to £40,000 - funded from the General Reserve.
Report author: Peter Grace
Publication date: 08/10/2019
Date of decision: 07/10/2019
Decided at meeting: 07/10/2019 - Cabinet