Agenda item

(a)  That the granting be agreed of an option to SUR to redevelop the site referred to as the North West Quadrant and to agree that Council officers should proceed on the basis that the site will be disposed of to, and developed by, SUR, subject to Cabinet approval of the final sum for each phase, which for the Council, will represent no less than the best consideration reasonably obtained (i.e. best value); and

(b)  That Subject to (a) above, delegated authority be given to the Director of Finance & Resources (Section 151 Officer), following consultation with the Leader of the Council, to agree:

i)  The final terms of the option in line with the agreed Heads of Terms; and

ii)  Expenditure of up to £150,000 of reasonable development costs at NWQ, including the replacement of hoarding, the cost of which is to recoverable from the regeneration project though the minimum land value payable by SUR.

(c)  That the content of Appendix One, which illustrates the vision, track record and expertise of SUR to deliver the NWQ site on behalf of the Council be noted.

(d)  That the content of Appendix Two be noted, which confirms the Council’s ability to use SUR to procure the development, and sets out how the standard option agreement has been amended to consider: additional governance, the phased and extended nature of the scheme, economic development, and the additional development management expertise required.

(e)  That the content of Appendix Three, prepared by an independent firm of Chartered Surveyors specialising in development consultancy, which supports the conditional disposal to SUR as a reasonable and effective route offering best value to the Council be noted.

(f)  That it be agreed that the redevelopment of the NWQ should, where possible, facilitate and maximise development opportunities emerging in the town centre where these opportunities deliver wider social and regenerative benefits for Slough.

(g)  That it be noted that further reports would be made to Cabinet on (i) the Masterplan for the development of the NWQ site to update SUR's current indicative Masterplan document; and (ii) the planning application for outline planning consent for the whole of the NWQ site and full planning consent for Phase 1; to seek Cabinet’s approval that SUR submit the planning application prior to it being taken through the planning process for determination.

The Leader of the Council introduced a report that updated that Cabinet on negotiations with Slough Urban Renewal (SUR) on the granting of an option to redevelop the North West Quadrant site.

Following the acquisition of the land by the Council in April 2017, detailed work had been undertaken with SUR to determine whether it could satisfy the Council’s requirements in relation to the quality and design mix; programme and deliverability; economic development outcomes; profit distribution and risk profile.  The recommendation was that SUR be granted an option for the redevelopment and the Cabinet was asked to consider and note the Appendices 1, 2 and 3, which contained exempt information, setting out the draft vision statement, legal issues and report of the external development consultant.

The Cabinet emphasised the strategic importance of the site and the wider opportunities to contribute to the major regeneration of the town centre.  It was agreed that the work undertaken since the acquisition had demonstrated that SUR was the best option to deliver the regeneration of the site.  Further reports would come back to Cabinet to approve the masterplan prior to the submission of the planning application.  A range of other issues were raised including the short term actions to improve the appearance of the site.  A proposal was made to amend recommendation (g) to clarify that Cabinet’s approval would be required before the plans for the site were submitted and that the determination of SURs application would be a matter for the formal planning process.  All of the recommendations, including the amended recommendation (g), were agreed.

Resolved –

(a)  That the granting be agreed of an option to SUR to redevelop the site referred to as the North West Quadrant and to agree that Council officers should proceed on the basis that the site will be disposed of to, and developed by, SUR, subject to Cabinet approval of the final sum for each phase, which for the Council, will represent no less than the best consideration reasonably obtained (i.e. best value); and

(b)  That Subject to (a) above, delegated authority be given to the Director of Finance & Resources (Section 151 Officer), following consultation with the Leader of the Council, to agree:

i)  The final terms of the option in line with the agreed Heads of Terms; and

ii)  Expenditure of up to £150,000 of reasonable development costs at NWQ, including the replacement of hoarding, the cost of which is to recoverable from the regeneration project though the minimum land value payable by SUR.

(c)  That the content of Appendix One, which illustrates the vision, track record and expertise of SUR to deliver the NWQ site on behalf of the Council be noted.

(d)  That the content of Appendix Two be noted, which confirms the Council’s ability to use SUR to procure the development, and sets out how the standard option agreement has been amended to consider: additional governance, the phased and extended nature of the scheme, economic development, and the additional development management expertise required.

(e)  That the content of Appendix Three, prepared by an independent firm of Chartered Surveyors specialising in development consultancy, which supports the conditional disposal to SUR as a reasonable and effective route offering best value to the Council be noted.

(f)  That it be agreed that the redevelopment of the NWQ should, where possible, facilitate and maximise development opportunities emerging in the town centre where these opportunities deliver wider social and regenerative benefits for Slough.

(g)  That it be noted that further reports would be made to Cabinet on (i) the Masterplan for the development of the NWQ site to update SUR's current indicative Masterplan document; and (ii) the planning application for outline planning consent for the whole of the NWQ site and full planning consent for Phase 1; to seek Cabinet’s approval that SUR submit the planning application prior to it being taken through the planning process for determination.