Agenda item

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

The report sets out a proposal to appoint a Developer as the Council’s preferred development partner for the Grand Central Regeneration scheme following the acquisition of the site in January 2011. The report also details the result of the recent application made to the Department for Transport for partial funding for the construction of a Multi Storey Car Park (MSCP) adjacent to Stockport Railway Station.

The Executive is recommended to:

·           Appoint Muse Developments Ltd as the Council’s preferred development partner for the Grand Central Regeneration scheme.

·           To delegate to the Corporate Directors of Place and Corporate and Support Services, in consultation with the Executive Councillors (Finance) and (Regeneration):

-            The finalisation of details around the Development Agreement, Land Disposals and on-going management of the site.

-            Subject to planning permission, to enter into the appropriate arrangements to construct temporary car parking at the site of the Tenpin building and the former Brannigan’s site.

-            The ability, if necessary, to terminate any occupational leases to coordinate with the phased development of the site.

-            The ability to choose the most appropriate financial model for the development of the scheme, including the utilisation of the DfT grant in relation to the overall financial framework

·           Note the result of the recent application made to the Department for Transport for partial funding for the construction of a Multi Storey Car Park (MSCP) adjacent to Stockport Railway Station and the subsequent planning applications.

Officer contact: Paul Lawrence, 0161 474 4515, paul.lawrence@stockport.gov.uk

(Note: This report has two 'not for publication' appendices which have been circulated to Executive Councillors only)

The Executive Councillors (Regeneration) and (Finance) submitted a report (copies of which had been circulated) inviting the Executive Meeting to consider proposals for a comprehensive redevelopment of the Grand Central site following the completion of a competitive procurement process.

(Note: The report included 'not for publication' appendices which had been circulated to executive councillors only.)

RESOLVED – That

(i)            Muse Developments Ltd be appointed as the Council’s preferred development partner for the Grand Central Regeneration Scheme.

(ii)          the result of the recent application made to the Department for Transport for partial funding for the construction of a Multi-Storey Car Park adjacent to Stockport Railway Station and the subsequent planning applications be noted;

(iii)         authority be delegated to the Corporate Directors of Place and Corporate and Support Services, in consultation with the Executive Councillors (Finance) and (Regeneration) to:

·         finalise the details around the Development Agreement, Land Disposals and on-going maintenance of the site;

·         enter into the appropriate arrangements to construct temporary car parking at the site of the Tenpin building and the former Brannigan’s site, subject to planning permission;

·         terminate, if necessary, any occupational leases to coordinate with the phased development of the site, and

·         choose the most appropriate financial model for the development of the scheme, including the utilisation of the Department for Transport grant in relation to the overall financial framework.