To consider
the Solicitor to the Council’s Report No. LEG1612 (copy attached), which sets
out proposals relating to the regeneration of the Union Street East site in
Aldershot.
Presented By:Environment and Service Delivery
Minutes:
The Cabinet considered the Solicitor to the
Council’s Report No. LEG1612, which sought approval to take forward the
regeneration of the Union Street East and former Marks and Spencer building
site, as identified in the Aldershot Town Centre Prospectus Supplementary
Planning Document.
Members were informed that
the site comprised Nos. 36 – 62 Union Street and Nos. 51 – 57 High Street. The
Report set out the background information and the development options. It went
on to highlight a number of acquisition issues around the assembly of the land which would be required to secure a development
partner. It was proposed that the Council should
continue to intervene at this site to acquire the properties required to allow
the area to be regenerated. A number of funding options had
been explored, including bids to the Local Growth Fund, which was
overseen by the Enterprise M3 Local Enterprise Trust and these options were set
out in the Report. Members heard that, given the complexity of ownerships, the
Council would need to work up a scheme as to how the key site could be regenerated to encourage interest from residential
developers.
The Cabinet confirmed its support for
intervening where required to facilitate the
regeneration of Rushmoor’s town centres and acquiring relevant sites as they
became available.
The Cabinet RESOLVED that
(i)
the redevelopment of the Union Street East and
former Marks and Spencer Key Site, as identified in Appendix 1 of the Solicitor
to the Council’s Report No. LEG1612, be approved;
(ii)
the details of the project be taken to the Aldershot
Regeneration Group;
(iii)
the capital cost for the acquisition of the four
Union Street properties stated in the Report, as set out in the confidential
Appendix 2 of the Report, be approved;
(iv)
the full year revenue costs associated with the
property acquisitions, as set out in the confidential Appendix 2 of the Report,
be approved;
(v)
the urgency decision to acquire Nos. 60 – 62 Union
Street, Aldershot be noted;
(vi)
the Head of Financial Services be authorised to:
-
accept
any grant funding towards the costs of the redevelopment and to enter into any
prudential borrowing arrangement, subject to appropriate safeguards, to
increase the viability of the scheme;
-
submit
expressions of interest and to enter into any loan or grant agreements with the
Local Enterprise Partnership or the Homes and Communities Agency necessary in
respect of the redevelopment of the key site;
(vii)
the
Solicitor to the Council be authorised to:
-
negotiate
and acquire by agreement Nos. 60 - 62 Union Street, Nos. 54 – 56 Union Street /
Nos. 53 – 55 High Street, No. 52 Union Street, No. 50 Union Street and No. 36
Union Street within the key site area, at the price set out in the confidential
Appendix 2 of the Report and subject to confirmation from the Council’s valuer or the Council’s external Compulsory Purchase Order
adviser that the price represents the appropriate open market value;
-
enter
into any legal documentation necessary in respect of the purchase or
acquisition of rights and to undertake any ancillary action in connection
therewith;
-
procure
and appoint architects to develop a scheme for the redevelopment of the key
site; and
-
appoint
external advisers to advise upon Compulsory Purchase Order acquisition costs.
Supporting documents: