Issue - meetings

The report of the Executive Manager – Operations and Transformation.

It was RESOLVED that:

a)    the row of shops including units 1 – 4c be demolished once the Council has achieved vacant possession.

b)    the capital programme be amended and the £387,000 underspend from the Land North of Bingham budget from 2017/18 be reallocated to cover additional costs associated with securing the vacant possession and demolition of units 1 – 4c and bringing forward Phase 2.

c)     Officers undertake detailed work on the investment opportunity for Rushcliffe Borough Council to develop the area of the shopping centre shown as Phase 2 in Appendix A.

d)    Concurrently, the Phase 2 area is red-lined and marketed  to ascertain levels of private sector interest which could result in a capital receipt for th e Council.

e)    a report be brought back to Cabinet later this year to detail the results of resolution c) and d)

The Portfolio Holder for Economic Growth and Business presented the report of the Executive Manager – Transformation and Operations to provide a progress report on the Cotgrave regeneration project Phase 1, and to set out the potential next steps to progress Phase 2. The Portfolio Holder advised that he was pleased to note that Phase 1 of the Cotgrave Regeneration Project had been delivered on budget. 

At its meeting in February 2018 Cabinet had approved the proposal for the Council to acquire long leaseholds on the town centre units which were not currently in Council ownership (Minute No.48 2017/18). The Portfolio Holder advised that it was now proposed that these units be demolished rather than refurbished as the row was unsightly and that demolition would provide more flexibility for the future use and the development of the area. The Portfolio Holder advised that external market advice had been secured from independent property consultants, Box Property to consider future uses for the site. The officer’s report provided details of their initial analysis of the future potential uses of the site. It was agreed that the £387,000 underspend from the Land North of Bingham budget from 2017/18 would be reallocated to Cotgrave regeneration Phase 2 to provide the funding required to secure vacant possession of the row, proceed with the demolition, and work up a proposal for the Council’s further investment in the site.

In seconding the recommendations, Councillor Mason noted that she was pleased that Phase 1 of the regeneration project had been completed within budget. Councillor Robinson welcomed that there were already various options under consideration for the future use of the land once the units had been demolished. Councillor Robinson also stated that it was important that the units be demolished as soon as possible as they had created an eyesore in the town centre.

It was RESOLVED that:

a)    the row of shops including units 1 – 4c be demolished once the Council has achieved vacant possession.

b)    the capital programme be amended and the £387,000 underspend from the Land North of Bingham budget from 2017/18 be reallocated to cover additional costs associated with securing the vacant possession and demolition of units 1 – 4c and bringing forward Phase 2.

c)     Officers undertake detailed work on the investment opportunity for Rushcliffe Borough Council to develop the area of the shopping centre shown as Phase 2 in Appendix A.

d)    Concurrently, the Phase 2 area is red-lined and marketed  to ascertain levels of private sector interest which could result in a capital receipt for th e Council.

e)    a report be brought back to Cabinet later this year to detail the results of resolution c) and d)

Reasons for decisions

To support the long-term regeneration of Cotgrave and to facilitate the delivery of economic growth in the area and contribute to ensuring a sustainable, prosperous and thriving economy.