Issue - meetings

To consider Exempt Report No. RP2008 (copy attached), which sets out the Rushmoor Development Partnership’s project plan in relation to the redevelopment of Union Street, Aldershot.

The Cabinet considered Exempt Report No. RP2008, which set out the Rushmoor Development Partnership’s (RDP) project plan in relation to the redevelopment of Union Street, Aldershot and other associated matters.

Members were informed of the immediate work required at the site and also of the impact of delays as a result of the Covid-19 crisis. Grant Thornton had been appointed to assist officers in carrying out due diligence in respect of the scheme. The Report set out a summary of the project plan, details of delegations and funding and also the next steps required to progress the delivery of the project plan. It was acknowledged that the scheme carried significant risk to the Council but Members were supportive of the approach proposed and considered that the regeneration of this site remained one of the Council’s key priorities.

The Cabinet RESOLVED that

(i)           the scheme, as set out in the appendix to Exempt Report No. RP2008, and the proposals by the RDP for taking the scheme forward, be noted;

(ii)          the submission of the planning application by the RDP be noted;

(iii)         the appointment of Grant Thornton as the Council’s main consultant for due diligence and other advice in relation to the scheme be noted;

(iv)         the appointment of external solicitors to progress with the Agreement for Lease and associated documents, using the provisionally agreed Head of Terms for the accommodation set out in Appendix A to Exempt Report No. RP2008, be noted, with the advice of the legal, property and financial due diligence processes being considered by the Cabinet prior to finalising the lease;

(v)          the Executive Head of Regeneration and Property, in consultation with the Major Projects and Property Portfolio Holder, be authorised to negotiate terms with a Register Provider in relation to a long lease for the affordable housing elements within the scheme;

(vi)         the Corporate Manager – Legal Services, in consultation with the Executive Head of Finance and the Major Projects and Property Portfolio Holder, be authorised to enter into the grant funding agreement with the Enterprise M3 Local Enterprise Partnership for the Union Street, Aldershot project;

(vii)       the demolition of the development site to enable redevelopment, following the securing of relevant land holdings, be approved, with officers being authorised to proceed with the procurement of the demolition contractor, with final approval of the said contract to be approved by the Cabinet in line with financial regulations;

(viii)      capital funding of up to £100,000, to enable the next phase of detailed design work to proceed, be approved; and

(ix)         it be noted that the Chief Executive, following the receipt and consideration of the due diligence advice, will bring forward a further report to the Cabinet setting out options for the delivery of the scheme.