Decision details

To consider the report of the Cabinet Member for Economic Development seeking approval for the proposed future disposal and redevelopment of the Royal Pier site for a mixed use development. 

(i)  That the Solicitor to the Council following consultation with the Head of City Development & Economy be authorised to negotiate terms and enter into any documentation necessary with ABP and the Crown Estate prior to marketing to facilitate the redevelopment of land at Royal Pier and surrounding land, as shown indicatively on Plan 1. 

(ii)  That the Head of City Development & Economy, following consultation with the Cabinet Member for Economic Development, be given delegated authority to prepare the marketing documents and market the Council’s land as shown on Plan 2, and subject to final Cabinet Member approval of the agreed Heads of Terms, dispose of land interests in the site, or parts of the site, to the selected developer.

(iii)  That the Solicitor to the Council be authorised to take any action including entering into any legal documentation necessary to give effect to this resolution and to take all necessary steps to undertake a marketing process in line with EU procurement regulations. 

(iv)  To approve in accordance with financial regulations expenditure as documented in Appendix 2 on the first phase of the Royal Pier development. Funding for this is incorporated within the Capital Programme as part of the Major Site development feasibility project.

(v)  That the Head of City Development and Economy following consultation with the Executive Director of Resources be given delegated authority to progress the scheme to completion subject to Council adding the additional funding to the capital programme and the total costs of the scheme remaining within the financial boundaries shown in Annex 1 to the Confidential Appendix.

1. The redevelopment of land at Royal Pier into a world class waterfront destination is important to the ongoing renaissance and economic well being of the City.  The development is critical to the aim of reconnecting the City Centre with its waterfront.
2. To progress the redevelopment the site needs to be openly marketed through a compliant marketing process in line with EU procurement regulations. 
3. Entering into a landowners’ agreement with ABP and the Crown Estate prior to commencing a marketing exercise will define how the process will be conducted and each party’s responsibilities within this.  The agreement will form the basis for the parties working together to seek a development partner for the site.  It will also provide prospective developers with a clear indication of the landowners’ intentions, objectives and requirements.  The form of the agreement will be a Memorandum of Understanding rather than a legally binding contract. 

The alternative options considered and rejected are to:

·  Delay marketing until economic conditions improve – however the length of the development process means that by the time the Council completes the disposal economic conditions should be improving.

·  Leave the site in its existing condition – this would not achieve the Council’s aspirations for the City and the waterfront.