Agenda item

To consider Report No. REG2402 (copy attached), which sets the next steps in relation to regeneration in Farnborough and the delivery of a Leisure and Cultural Hub.

The Cabinet considered Report No. REG2402, which set out an update on regeneration within Farnborough town centre and on the Leisure and Cultural Hub project in particular.

The Cabinet was reminded that, at its meeting on 17th October, 2023, it had agreed the final project scope for the Leisure and Cultural Hub , the schedule of accommodation, the forecasted budget required to complete the pre-construction phases of the project and to submit the planning application. Members were informed that this report now provided an update on the project, the operator procurement and options for the next stages, taking into account the work undertaken since October, impacts of inflation and implications for the current funding strategy, given the position relating to the Council’s future capital programme, as set out in the 2024/25 budget report.

The Cabinet expressed support for the proposed approach.

The Cabinet

(i)           RECOMMENDED TO THE COUNCIL that:

(a)          an increase of £255,000 in the Capital budget for 2023/24, funded by a further draw down from the Levelling Up grant, be approved; and

(b)          the inclusion of the £1.725 million One Public Estate Brownfield Land Release Fund grant in the 2023/24 and 2024/25 capital programmes, as appropriate, be approved, to enable the demolition of the Pinehurst Car Park and site preparation and utilities work across plots established by the Civic Quarter Masterplan; and

(ii)          RESOLVED that:

(a)          the revised costs of the current stage of planning and design work (RIBA Stage 3) of £386,855, as set out in Report No. REG2402, be noted;

(b)          an initial sum of £50,000 towards potential redesign work be approved;

(c)          the undertaking of a costing exercise by Willmott Dixon on the RIBA 3 designs, to provide market tested costs for consideration before the decision to move to the next stage of design and development (RIBA Stage 4), be approved;

(d)          the undertaking of a pre-planning consultation exercise in March, on the designs at the conclusion of the RIBA 3 design process, be approved;

(e)          the adjustment in the overall project timeline, to take into account the market costing exercise and provide a period for any necessary design revisions as a result of the report and the pre-planning public consultation exercise, as set out in the Report, be noted;

(f)           the undertaking of work as part of the Council’s Financial Resilience Plan to address the affordability of the current and future capital programme and the links to the decision to move fully to the next stage of design and development (RIBA Stage 4) be noted;

(g)          the revised funding strategy for the project, given the position set out in the 2024/25 budget report and supporting Financial Resilience Plan, be noted;

(h)          the approach to the demolition of the Pinehurst Car Park and the temporary relocation of the Council’s car boot sale to the High Street multi-storey in Aldershot be noted; and

(i)            the use of any slippage on the Civic Quarter capital budget in 2023/24 to progress elements of the Civic Quarter regeneration programme, where this could lead to improved land values in line with the Financial Resilience Plan, be approved.