The decision has been made to appoint JLL to undertake commercial agency services in relation to land in the City Centre.

The Executive Director (Development) had submitted a report to seek approval to delegate to officers the process and selection of a preferred commercial partner for the potential redevelopment of Council-owned land in the city centre. This would enable the Council to make an informed choice about its next moves.

Cllr Ed Turner, Cabinet Member for Finance and Asset Management, highlighted that the Council owned a number of assets in the City centre.  The approach outlined in the report formed part of a pro-active, medium term land-management plan for one of these sites and would involve an options evaluation, including possible redevelopment.  It was noted that a further Cabinet decision would be required in the event that redevelopment was determined as the best option.

Cabinet resolved to:

1.   Delegate authority to the Executive Director Development, in consultation with the Council’s Section 151 Officer, the Head of Law and Governance, and the Cabinet Member for Finance and Asset Management, to agree the terms, route to market, and then select a preferred commercial partner for the potential redevelopment of council owned land in the city centre; and

2.   Note that any decision to enter into contract with the preferred commercial partner for the redevelopment of the land would require a separate Cabinet decision. This would be taken in the round with consideration of other options, including the potential to renew the lease with existing lease holder.