Agenda item

To consider a report of the Cabinet Member for Economy & Regeneration

(Note: the report contains information in appendices 2-7 that is ‘not for publication’ that have been circulated to cabinet members only)

The report seeks approval for the acquisition of the former BHS store, identified as a key strategic asset by the Cabinet in December 2017.  A further approval will be sought for the redevelopment of the asset at a future date.

The Cabinet give delegated authority to the Corporate Director for Place and Borough Treasurer in consultation with the Leader of the Council and the Cabinet Members for Economy & Regeneration and Reform & Governance to:

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

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

•        authorise the Head of Legal to take such other steps as are appropriate and necessary to secure the acquisition and ongoing management and regeneration of the asset.

Officer contact: Joseph Conmee, 0161-474-5396, joseph.conmee@stockport.gov.uk

The Cabinet Member for Economy & Regeneration submitted a report (copies of which had been circulated) inviting the Cabinet to consider a proposal for the Council to acquire the former BHS building, identified as a key strategic asset by the Cabinet in December 2017.

(Note: the report contained information ‘not for publication’ in its appendices that had been circulated to cabinet members only).

RESOLVED – That in relation to the former BHS store, Merseyway, 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, be given delegated 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.