Decision details

Further to the report to Cabinet in March 2016, to consider a follow-up report on the business case to support the redevelopment of the Old Library site.

(a)  That the Old Library Site was no longer required for the purposes for which it is presently held.

(b)  That the Old Library Site be appropriated for other purposes for the benefit, improvement or development of the Council’s area.

(c)  That a recommendation be made to Full Council that the Council develop two hotels and a restaurant on the Old Library site, at an estimated cost of £30.5m (borrowing cost £55m) for the hotels and £1.7m (borrowing cost £3m) for the restaurant.

(d)  That the Council enter into an Agreement for Lease with Landlord’s Works for a 25-year term with a hotel operator for part of the Old Library Site and note that this could be extended to 45 years to match the offer from the hotel operator.

(e)  That a follow-up report be presented to Cabinet in September 2016 to present complementary development options and recommendations for the remainder of the site.