Decision details

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The Executive Meeting considered proposals for the delivery of Phase 2 of Grand Central (Stockport Exchange) redevelopment, and in light of the information contained in the report, and set out in the appendices has agreed that

·                approval be given to the Council, in partnership with Muse Developments Ltd, proceeding with phase 2 of the Grand Central/Stockport Exchange development, namely the construction of the first office and hotel buildings and the associated public realm and highway works;

·                the use of Prudential Borrowing to finance phase two of the development of Stockport Exchange be approved; and

·                authority be delegated to the Corporate Director for Corporate and Support Services and the Corporate Director for Place Management and Regeneration, in conjunction with the Executive Councillors (Corporate, Customer & Community Services) and (Economic Development & Regeneration) to work with Muse to secure the most financially beneficial funding arrangement to secure the developments and, subject to the final financial arrangements satisfying the aim of the development providing a positive financial assessment, to enter into all the appropriate agreements/leases to enable the construction, funding, operation and use of the buildings. 

(Note: the report included information ‘not for publication’ contained in its appendices that were circulated to executive councillors only)

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Town Centre Task Force Meeting

Environment & Economy Scrutiny Committee