Decision details

To consider the report of the Cabinet Member for Economic Development to review the strategy relating to the council properties located at the northern end of Above Bar Street and agree a new approach.

Having complied with paragraph 15 of the Council’s Access to Information Procedure Rules.

(i)  Agree to cease the sales of nos.186, 188, 190-192 and 194-196A Above Bar Street.

(ii)  Authorise the Executive Director of Growth to carry out a soft market testing exercise of the site (shown edged in red on Appendix 1) to identify the level of developer interest and to help inform masterplanning of the area.

(iii)  Delegate to the Executive Director of Growth to determine whether the adjacent 164-174 Above Bar Street should be included in the soft market testing.

(iv)  Subject to completion of the masterplan, the Executive Director of Growth will bring forward a further report to Cabinet to update on the strategy for the area.

This report is submitted for consideration as a General Exception under

paragraph 15 of the Access to Information Procedure Rules in Part 4 of the

City Council’s Constitution, notice having been given to the Chair of the

relevant Scrutiny Panel and the public. This is being presented under the

General Exception due to an administrative error resulting in the item not

appearing on the Forward Plan and the statutory 28 day’s notice was

therefore not complied with.

The Council owns a significant area at the northern end of Above Bar Street,

this report states that before decisions are taken regarding the future of this

site (in Appendix 1) a vision and strategy will be developed through a master

planning process and this will form a development brief. Once completed this

will be reported back to Cabinet but in the meantime the sales of the

properties on this site that were proceeding will cease. This will ensure that

the long term interests of the city and its economic development are best

served.

Continue with the sales of the freeholds to the long leasehold tenants where

terms have been agreed. This will make site assembly for comprehensive

development of this area in the future more difficult to achieve in terms of

cost, staff resource and timescale. This is because the tenant’s interest will

have increased in value as a result of the purchase and they may be less

interested in the option of redevelopment due to their improved security of

tenure. This could result in the need to use compulsory purchase powers to

bring forward re-development in the future.

Do Nothing. The buildings will require significant investment in the future so

the council will need to either divest itself of these properties or promote re-development, doing nothing in the longer term is not a viable option.