Issue - decisions

The Deputy Chief Executive and Corporate Director for Place Management & Regeneration, in consultation with the Leader of the Council and Executive Councillor (Economy & Regeneration) have approved the letting of the first floor of the Stockport Exchange to Regus on the terms indicated in the confidential appendix to the report.

(Note: the report contains information ‘not for publication’ that was circulated to decisions-makers and consultees only).

The Deputy Chief Executive and Corporate Director for Place Management & Regeneration, in consultation with the Leader of the Council and Executive Councillor (Economy & Regeneration) have approved the letting of the first floor of the Stockport Exchange (Phase 2) building to the tenant and on the terms indicated in the report.

This decision supersedes decision ODDCE46/ODPL46.

(Note: the report contains information ‘not for publication’ that was circulated to decisions-makers and consultees only).

Test

The Corporate Directors for Corporate and Support Services and for Place Management and Regeneration, in consultation with the Executive Councillors (Support & Governance) and (Thriving Economy) have approved the proposed pre-letting by the SPV of the retail unit in phase 2 of the Stockport Exchange development to a national supermarket chain, on the terms outlined in confidential appendix 1.

(Note: the report contains information ‘not for publication’ that has been circulated to decision makers only.)

Further to the decision of the Executive on 1 October 2013 relating to Phase 2 of the delivery of the Stockport Exchange regeneration proposals, the Corporate Directors for Corporate and Support Services and for Place Management and Regeneration, in consultation with the Executive Councillors (Corporate, Customer & Community Services) and (Economic Development & Regeneration) have approved:

              (i)       the legal and financial structure to achieve the delivery of Phase 2;

             (ii)       completion of the Hotel Management Agreement ;

            (iii)       completion of the Franchise Agreement (and subsidiary documents) and,

            (iv)       completion of a new lease with Network Rail to enable the construction of the Public Realm works.

(NOTE: the report contains information ‘not for publication’ within Appendices 1 & 2 that were considered by the Corporate Directors and Executive Councillors only).

The Corporate Directors for Corporate and Support Services and for Place Management & Regeneration, in consultation with the Executive Councillors (Economic Development & Regeneration) and (Corporate, Customer & Community Services) have agreed to appoint Interstate United Kingdom Management Ltd as the selected Operator of the hotel being developed as part of phase 2 of Stockport Exchange and have authorised the work with them to agree Heads of Terms and appropriate management contracts to enable the operation and use of the hotel.

(NOTE: The report considered by the Chief Executive contained information ‘Not for Publication’ by virtue of Category 3 of Schedule 12a of the Local Government Act 1972 (as amended) “information relating to the financial or business affairs of any particular person (including the authority)”. Disclosure of this information would not be in the public interest as it would prejudice the Council in any future negotiations.)

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)