Agenda item

(a)  That it be agreed that in addition to building two hotels and a restaurant, the mixed-use scheme should include 60 residential apartments.

(b)  That it be noted that having previously granted an option over the land, the entire mixed-use scheme be developed by Slough Urban Renewal.

(c)  That it be noted that a separate report would be presented to Cabinet in spring 2017 that sought approval to dispose of the residential element for a sum that reflects the best value valuation.

The Commissioner for Housing & Urban Renewal introduced a report that sought approval to build 60 residential apartments on the Old Library Site in addition to the two hotels and a restaurant agreed by Cabinet in June 2016.  It was proposed that the entire mixed use scheme be developed by Slough Urban Renewal.  Further to the earlier decision on the establishment of two subsidiary housing companies, these residential units would provide an opportunity for the Council to realise a long-term income stream and capital appreciation through renting Hershel Homes.

An options appraisal for the remainder of the site had been undertaken and this was noted in the Part II Appendix 1 without disclosing any of the exempt information.  In summary, the credible options were for either residential or office development, with the potential for the Council to utilise some of the office space.  The Commissioner highlighted that options appraisal had resulted in a recommendation for the mixed use development to include 60 residential apartments on the remainder of the site.  There were already a wide range of plans and projects in the Heart of Slough to stimulate town centre regeneration and it was consider the residential option would best meet both strategic and financial objectives.  Subject to the relevant approvals, it was envisaged that work would start on site in 2017 and complete in the third quarter of 2019.

Councillors Swindlehurst, Bains and Anderson raised a number of issues under Rule 30 including the comparative future income from Business Rates or Council Tax receipts; the social value created in the form of apprenticeship opportunities for local people; and the proposed tenancy mix, with concerns expressed about the proportion of social housing as part of the development.  The responses were noted and further information would be provided on the significant local benefits that had been committed through the SUR.  Further detail on the tenancy mix would be provided through the planning process and the Planning Committee would have to consider this matter before making a determination.

At the conclusion of the discussion, the Cabinet agreed to include 60 residential apartments as part of the mixed used development and that it be developed by Slough Urban Renewal.

Resolved –

(a)  That it be agreed that in addition to building two hotels and a restaurant, the mixed-use scheme should include 60 residential apartments.

(b)  That it be noted that having previously granted an option over the land, the entire mixed-use scheme be developed by Slough Urban Renewal.

(c)  That it be noted that a separate report would be presented to Cabinet in spring 2017 that sought approval to dispose of the residential element for a sum that reflects the best value valuation.