Issue - meetings

[To select the preferred developer for the refurbishment and reuse of the former Heath Town Baths and adjoining land]

Cllr John Reynolds presented the report seeking authority to select a preferred developer for the refurbishment and reuse of the former Heath Town Baths (including adjoining land) following the recent marketing exercise.

Resolved:

1. That the selection of the preferred developer identified in the body of the report be approved.

2. That the disposal be on the basis of the grant of a long lease or the sale of the freehold with adequate provision for forfeit in the event of the developer failing to meet agreed milestones in terms of completion of refurbishment works

3. That an exclusivity agreement with the preferred developer for an initial period of six months to enable further due diligence to be undertaken be approved.

4. That authority be delegate to the Cabinet Member for City Economy, in consultation with the Service Director – City Economy to approve:

a.      any extension to the exclusivity period.

b.      the agreement of remaining heads of terms for the disposal of the property.