Decision details

To consider the report of the Leader of the Council recommending the appointment of a preferred development partner for the disposal and redevelopment of the former Council’s former Town Depot site now known as Chapel Riverside.

This development has the potential to play a key role to regeneration the Itchen Riverside area

(i)  To approve the sale of the site to the recommended bidder, Developer A, as set out in confidential Appendix 2 and to delegate authority to the Head of Development, Economy and Housing Renewal to negotiate the final terms and conditions, and;

(ii)  In the event that Developer A withdraws or does not complete a Development Agreement with the Council within an agreed timescale to approve the sale of the site to the reserve bidder, Developer B, set out in confidential Appendix 3, provided that the Head of Development, Economy and Housing Renewal, in consultation with the relevant Cabinet Member, considers this to be in the Council’s best interests; and to delegate authority to the Head of Development, Economy and Housing Renewal to negotiate the final terms and conditions.

(iii)  To authorise the Head of Legal and Democratic Services and the Head of Property Services to make all necessary arrangements to make the site available for sale and to enter into the required legal documentation.

(iv)  To authorise the Director of Place to take any further action necessary to give effect to the decision of Executive in relation to this matter.

1.  The site is surplus to Council requirements and there is potential for major development which will have wide ranging economic, social and financial benefits.

2.  There is the potential for the development to act as a catalyst for further regeneration of the Itchen waterfront in accordance with the emerging master plan for this area. This identifies a package of measures designed to grow and support the maritime sector and wider economic growth in Southampton.

1.  Sell the site unconditionally for immediate capital receipt. It is most likely it would be used for open storage or industrial uses which would not respond to either City Centre Master Plan or City Centre Action Plan objectives.

2.  Retain ownership and rent the site: As above, this would not offer a long term solution and the potential for wider economic, social and financial benefits. 

None.