Issue - meetings

To consider a joint report of the Executive Councillors (Economic Development & Regeneration) and (Governance & Corporate Services)

(Note: this report includes information ‘Not for Publication’ contained within its appendices that has been circulated to executive councillors only)

The Council is committed to the regeneration of Stockport town centre. The downturn in the economy since 2008 has made this a challenging task. Two projects central to town centre regeneration are car parking provision, and the redevelopment of the Bridgefield area. This report details actions taken so far and proposed next steps in respect of the Bridgefield regeneration scheme and the improvement of the Merseyway car park.

The Executive is recommended to:

Ÿ  agree to acquire the freehold of properties fronting Prince’s Street belonging to UK Asset Recovery as follows:

38-40 Prince’s Street

76-80 Prince’s Street

87-91 Prince’s Street (and 1 Arden Walk)

97-99 Prince’s Street

103-105 Prince’s Street

111 Prince’s Street

113 Prince’s Street;    

Ÿ  authorise the improvements to the Merseyway car park and the necessary additional prudential borrowing as indicated within confidential appendix 2

Ÿ  authorise the Service Director (Place Development) and the Corporate Director for Corporate and Support Services, in consultation with the Executive Councillors (Economic Development & Regeneration) and (Governance & Corporate Services) to settle the final terms of the agreement with UK Asset Recovery, subject to a positive outcome to the final valuation and any outstanding due diligence. 

Ÿ  seek expressions of interest for the disposal of the Bridgefield site on the basis of redevelopment;

Ÿ  agree the budget allocation for further work required on the Bridgefield scheme to negotiate with occupiers and tenants and to bring the scheme forward to the construction phase;

Ÿ  in connection with the Bridgefield scheme, authorise the Service Director (Place Development) and the Corporate Director for Corporate and Support Services  in consultation with the Executive Councillor (Economic Development & Regeneration) and Executive Councillor (Governance & Corporate Services):

-          To negotiate terms with potential and existing tenants and occupiers

-          To negotiate terms with potential funders

-          To bring a further report to the Executive reporting on the outcomes of market testing and for approval for any further property acquisitions or compulsory purchase orders in respect of any property interests needed for the scheme as a result.

Office contact: Barry Khan/  Paul Lawrence, 0161 474 3202/ 218 1940, barry.khan@stockport.gov.uk / paul.lawrence@stockport.gov.uk

A joint report of the Executive Councillors (Economic Development & Regeneration) and (Governance & Corporate Services) was submitted (copies of which had been circulated) inviting the Executive Meeting to consider progress with the redevelopment of the Bridgefield area of the Town Centre, proposed next steps for this scheme and for improvements to the Merseyway Car Park.

In response to the recommendation of the Environment & Economy Scrutiny Committee on 18 October 2012, the Executive Councillor (Economic Development & Regeneration) stated that accepting the proposal would not accord with the decision-making process as set out in the Constitution, but that the Executive remained committed to ensuring the involvement of all political groups in appropriate consultation prior to any decisions being taken on strategic projects in the Town Centre.

(NOTE: the report included information ‘Not for Publication’ contained within its appendices that had been circulated to executive councillors only).

RESOLVED – That

(i)            approval be given to acquire the freehold of the following properties fronting Prince’s Street belonging to UK Asset Recovery:

·      38-40 Prince’s Street;

·      76-80 Prince’s Street;

·      87-91 Prince’s Street (and 1 Arden Walk);

·      97-99 Prince’s Street;

·      103-105 Prince’s Street;

·      111 Prince’s Street; and

·      113 Prince’s Street;

(ii)          the Service Director (Place Development) and the Corporate Director for Corporate and Support Services, in consultation with the Executive Councillors (Economic Development & Regeneration) and (Governance & Corporate Services) be authorised to settle the final terms of the agreement with UK Asset Recovery, subject to a positive outcome to the final valuation and any outstanding due diligence.

(iii)         authorisation be given to the improvements to the Merseyway car park and the necessary additional prudential borrowing as indicated in confidential appendix 2;

(iv)         agreement be given to seek expressions of interest for the disposal of the Bridgefield site on the basis of redevelopment;

(v)          the budget allocation for further work required on the Bridgefield scheme to negotiate with occupiers and tenants and to bring the scheme forward to the construction phase as detailed in the report be agreed;

(vi)         in connection with the Bridgefield scheme,  the Service Director (Place Development) and the Corporate Director for Corporate and Support Services in consultation with the Executive Councillors (Economic Development & Regeneration) and (Governance & Corporate Services) be authorised to:

·         negotiate terms with potential and existing tenants and occupiers;

·         negotiate terms with potential funders;

·         promote a compulsory purchase order in respect of any property interests needed for the scheme that cannot be acquired by private treaty;

·         take such further action as is necessary to bring the scheme forward to the construction phase; and

·         submit a further report to the Executive upon conclusion of those negotiations.

To consider a report of the Corporate Director, Corporate and Support Services and Service Director (Place Development)

(Note: this report includes information ‘not for publication’ contained within its appendices which has been circulated to members of the Scrutiny Committee only).

This report sets out the proposed next steps for two major regeneration projects – Bridgefield and the Merseyway car park. These two projects have become partly linked together by a proposal from UK Asset Recovery (UKAR), the holder of the debt on the Merseyway Shopping Centre, as detailed in the report.

The Scrutiny Committee is invited to comment on the report prior to its consideration by the Executive.

Officer contacts: Barry Khan/Paul Lawrence on 0161 474 3202/0161 218 1940 or e mail: barry.khan@stockport.gov.uk/paul.lawrence@stockport.gov.uk.

The Service Director (Place Development) submitted a report (copies of which had been circulated) setting out the proposed next steps for two major regeneration projects – Bridgefield and the Merseyway car park. These two projects had become partly linked together by a proposal from UK Asset Recovery (UKAR), the holder of the debt on the Merseyway Shopping Centre, and the proposals for the scheme were detailed in the report. This Scrutiny Committee would continue to be advised of future developments in the scheme, as well as the Town Centre/M60 Gateway Task Force.

The following comments were made/issues raised:-

•           The lessons learnt from the Grand Central development of the 1990’s.

•           What was currently happening to the retailers who owned shops on Princes Street and the businesses faced with Compulsory Purchase Orders at a time when many retailers were struggling in the current economic climate. Work was taking place with advising traders on Princes Street of the proposals through the Town Team.

•           The current situation with regard to the acquisition of properties on Princes Street.

•           The Council was not currently looking for a Development Manager for the project, but would seek a funding partner if planning permission was approved for the project. Nothing would happen until planning permission was approved.

•           The aim was that footfall for Princes Street would improve as this retail area would fall between the retail offer in the Merseyway precinct and the proposed leisure offer on the Bridgefield site.

•           Any future plans to extend the Metrolink to Stockport would not be affected by the proposals.

•           The importance of attracting quality restaurants for shoppers and people visiting the cinema. The improvements to Merseyway Car Park would also improve the quality of the offer for visitors to the town centre.

•           People would still be attracted by the free car parking available at similar facilities at Parrs Wood, although it is free in Stockport after 6.00pm. Consideration could be given to an increase in the service charge to retailers to help meet the cost of the car parks.

•           A Member expressed concern that car parking charges were proposed to be increased in line with inflation.

It was then

MOVED AND SECONDED – (1) That the Executive Meeting be advised that this Scrutiny Committee recommends that the third bullet point in the recommendations in the report to the Executive Meeting be amended to read:-

‘To authorise the Service Director (Place Development) and the Corporate Director, Corporate and Support Services, in consultation with the Executive Councillors (Economic Development and Regeneration) and (Governance and Corporate Resources) and Labour Group Spokesperson on this Scrutiny Committee and a designated Member from the Conservative Group, to settle the final terms of the agreement with UK Asset Recovery, subject to a positive outcome to the final valuation and any outstanding due diligence’.

(2) That the Executive Meeting be advised that this Scrutiny Committee expresses concern about the proposed inflationary increase in the car parking charges.

For the motion 5, against 4

MOTION CARRIED

It was then

RESOLVED – (1) That the report be noted and the Scrutiny Committee’s comments reported to the Executive Meeting on 12 November 2012.

(2) That the Executive Meeting be advised that this Scrutiny Committee recommends that the third bullet point in the recommendations in the report to the Executive Meeting be amended to read:-

‘To authorise the Service Director (Place Development) and the Corporate Director, Corporate and Support Services, in consultation with the Executive Councillors (Economic Development and Regeneration) and (Governance and Corporate Resources) and Labour Group Spokesperson on this Scrutiny Committee and a designated Member from the Conservative Group, to settle the final terms of the agreement with UK Asset Recovery, subject to a positive outcome to the final valuation and any outstanding due diligence’.

(3) That the Executive Meeting be advised that this Scrutiny Committee expresses concern about the proposed inflationary increase  ...  view the full minutes text for item 7

Report by Service Director for Place Development

The Service Director (Place Development) submitted a report (copies of which have been circulated) setting out the proposed next steps for two major town centre regeneration projects – Bridgefield and the Merseyway car park.

RESOLVED – That the report be noted.

To consider a joint report of the Executive Councillors (Finance) and (Regeneration)

(Note: this report includes information ‘Not for Publication’ contained within its appendices which have been circulated to executive councillors only)

One of the Council’s key priorities is the regeneration of Stockport Town Centre. The purpose of this report is to seek authority from the Executive to purchase the freehold of a property to facilitate a new public square which will form part of the proposed Bridgefield regeneration scheme. This purchase is necessary as the square forms an important link into the town centre and the Merseyway Shopping Centre from Bridgefield.

The Executive is recommended to:

·         Approve the acquisition of the freehold of the property edged red on the plan in confidential appendix 1.

·         Authorise the Service Director (Place Development) and the Corporate Director for Corporate and Support Services in consultation with the Executive Councillors (Finance) and (Regeneration) to settle the final terms of the agreement subject to a positive outcome to the final valuation and any outstanding due diligence

Officer contact: Barry Khan/ Paul Lawrence, 0161 474 3202/ 0161 218 1940, barry.khan@stockport.gov.uk / paul.lawrence@stockport.gov.uk

The Executive Councillor (Economic Development & Regeneration) submitted a report (copies of which had been circulated) inviting the Executive Meeting to consider a proposal to acquire a property in the Town Centre to support the Council’s regeneration plans for the Bridgefield area.

(Note: this report included information ‘Not for Publication’ contained within its appendices circulated to executive councillors only)

RESOLVED - That

·         the acquisition of the freehold of the property edged red on the plan at confidential appendix 1 of the report be approved, and

·         the Corporate Director for Corporate and Support Services and the Service Director (Place Development) be authorised, in consultation with the Executive Councillors (Economic Development & Regeneration) and (Governance & Support Services) to settle the final terms of the agreement subject to a positive outcome to the final valuation and any outstanding due diligence.