Decision details

The Portfolio Holder for Economic Growth and Business presented the report of the Executive Manager – Transformation which provided Cabinet with an update on the Cotgrave Regeneration Project and recommended that phase 2 of the scheme proceed which would complete the successful delivery of the regeneration of Cotgrave Town Centre. The Portfolio Holder was pleased to note the recent opening of the Cotgrave Hub, the multi-service centre which housed the health centre, a police station, a library and a contact centre for Rushcliffe Borough Council.    

It was noted that the recommendation of the implementation of four new units in Cotgrave Town Centre would provide the Council with the best financial outcome in the shortest time as it would generate £103,000 if all units were fully let. The Portfolio Holder also noted that he had recently attended an innovation seminar with Bill Grimsey as a guest speaker who encouraged the regeneration of community facilities and the diversification of the High Street in his publication ‘The Grimsey Report 2’ The Portfolio Holder concluded that it was essential for phase 2 of the regeneration of Cotgrave Town Centre to proceed which would ultimately complete the project and provide an opportunity for a revenue return to the Council which would support the Council’s continued investment in Cotgrave.

In seconding the recommendations Councillor Upton praised the investment undertaken to regenerate Cotgrave Town Centre and was pleased that 470 new homes had been built with 30% affordable housing.

Councillor Robinson also praised the milestone of the opening of the Cotgrave Hub and was pleased that there had already been significant interest in the refurbished units during phase one of the regeneration project.

It was RESOLVED that

a)    an investment in Phase 2 of the Cotgrave town centre regeneration scheme, in order to deliver four new units of approximately 4000 sq ft, 1200 sq ft, 1500 sq ft and 1600 sq ft be approved subject to a pre-let being agreed for the largest unit at a market rate price and minimum length of ten years.

b)    Provision be made in the 2019/20 capital programme to support the delivery of phase 2 to be funded in accordance with the S151 officer’s recommendation.

Reason for decisions

The delivery of Phase 2 of the Cotgrave town centre regeneration scheme will complete the successful delivery of the project and will provide an opportunity for a revenue return to the Council which supports the Council’s continued investment in Cotgrave.