Decision details

Town Centre Regeneration – Merseyway Redevelopment - Former BHS Store

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Following due diligence work, the report seeks approval for acquisition of a property identified previously by the Cabinet as a key strategic asset within Merseyway.

Decision:

The Cabinet considered a proposal for the Council to acquire the former BHS building, identified as a key strategic asset by the Cabinet in December 2017, and agreed to delegate to the Corporate Director for Place Management & Regeneration and Borough Treasurer, in consultation with the Leader of the Council and the Cabinet Members for Economy & Regeneration and Reform & Governance, authority to

 

•        acquire the former BHS store at a price up to the valuation set out in Confidential Appendix 5;

•        agree the optimum means to hold and manage the asset (together as appropriate with other Council assets);

•        authorise the Head of Legal, Democratic Governance and Estate & Asset Management to take such other steps as were appropriate and necessary to secure the acquisition and ongoing management and regeneration of the asset.

 

(Note: the report contained information ‘not for publication’ in its appendices that had been circulated to cabinet members only).

Alternative options considered:

None

Interests and Nature of Interests Declared:

None

Reason Key: Affects 2 or more wards;

Wards Affected: (All Wards);

Equality and/or Environmental Impact Assessment: n/a

Decision Reference: CAB165

Forward Plan Reference: E&R35

Other reasons / organisations consulted

Scrutiny and Cabinet

Contact: Paul Richards, Director of Development and Regeneration Email: paul.richards@stockport.gov.uk Tel: 0161-474-2940.

Report author: Alex Fyans

Publication date: 24/04/2019

Date of decision: 23/04/2019

Decided at meeting: 23/04/2019 - Cabinet

Effective from: 01/05/2019

Accompanying Documents: