Agenda item

(a)  That it be agreed to the grant of an option to SUR and to agree that Council officers should proceed on the basis that the sites at Slough Basin will be disposed to and developed by SUR , subject to Cabinet approval of the final sum that will represent no less than the best value consideration;

(b)  That delegated authority be given to the Strategic Director of Housing, Regeneration and Resources, following consultation with the Cabinet member for Housing & Urban Renewal and the Leader of the Council, to negotiate an SBC option over any potential Private Rented Sector (“PRS”) units promoted within the scheme, and

(c)  That delegated authority be given to the Strategic Director of Housing, Regeneration and Resources, following consultation with the Cabinet member for Housing & Urban Renewal and the Leader of the Council, to agree and approve the terms of the Joint Venture vehicle between SUR (SBC and Morgan Sindall Investment Limited) and Waterside Places (Canal and River Trading CIC and Muse Developments Limited) which will be used for the promotion and delivery of the Slough Basin scheme.

The Cabinet considered a report that sought formal approval to grant an option to Slough Urban Renewal (SUR) to redevelop Slough Basin and part of Bowyer Playing Fields to progress the long-term aspiration to create a high quality, residential led scheme at the end of the Slough Arm of the Grand Union Canal.

The Slough Basin scheme would be promoted and delivered in partnership with Waterside Places, the Canal and Rivers Trust development arm.  It was recognised that the site had the potential to deliver significant regeneration benefits and granting an option to SUR was an important step forward for the complex scheme.  It would provide the SUR and partners the certainty required to further develop the concept and bring forward to planning.  The proposal would come back to the Council and Cabinet approval would be required for the disposal.  The tenure mix was still to be finalised, however, there was an opportunity for the Herschel Homes subsidiary housing company to acquire the private rented units, subject to approval of the business plan by Cabinet in December.

Commissioners commented on the need for a clarity and transparency in the strategic approach to such a major development and sought assurance that ward Members would be engaged in the development of the proposal, and particularly any community facilities.  Councillors Anderson and Swindlehurst addressed the Cabinet under Rule 30 and asked the Cabinet to ensure that the regeneration benefits were maximised; access to the canal was maintained; and that the strategic intent of utilising any revenue or capital receipts for community benefit be clarified.  The Commissioner for Housing & Urban Renewal confirmed that the potential for a community hub would be considered as part of the wider development of the Council’s emerging strategy on community hubs and that maximising the regeneration benefits for the local community was a key ambition in taking forward the plans.

The Cabinet then agreed to grant an option to the SUR and give delegated authority to the Strategic Director of Regeneration, Housing & Resources to take further practical steps to move the scheme forward.

Resolved –

(a)  That it be agreed to the grant of an option to SUR and to agree that Council officers should proceed on the basis that the sites at Slough Basin will be disposed to and developed by SUR , subject to Cabinet approval of the final sum that will represent no less than the best value consideration;

(b)  That delegated authority be given to the Strategic Director of Housing, Regeneration and Resources, following consultation with the Cabinet member for Housing & Urban Renewal and the Leader of the Council, to negotiate an SBC option over any potential Private Rented Sector (“PRS”) units promoted within the scheme, and

(c)  That delegated authority be given to the Strategic Director of Housing, Regeneration and Resources, following consultation with the Cabinet member for Housing & Urban Renewal and the Leader of the Council, to agree and approve the terms of the Joint Venture vehicle between SUR (SBC and Morgan Sindall Investment Limited) and Waterside Places (Canal and River Trading CIC and Muse Developments Limited) which will be used for the promotion and delivery of the Slough Basin scheme.