Decision Maker: Executive
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
To consider the report on Lease restructuring in Summerland Street.
The Executive received the report, which advised Members on the proposed disposal of land at Summerland Street to facilitate the re-development of a site on Council owned land on the edge of the city centre. The three existing long leases would be surrendered with a new long lease being granted to facilitate re-development of the site for co-living accommodation, thereby securing a significant capital receipt.
Particular reference was made to the difference between co-living and purpose built student accommodation. The City Surveyor confirmed that the lease on the land would limit use of the site to co-living accommodation and would exclude use as purpose built student accommodation.
Councillor Jobson, as an opposition leader, spoke on this item and wanted to ensure that the Council kept an open mind on the types of development on the land.
Members welcomed the report, which was considered to be a good opportunity to re-develop the Council owned land and to create vibrant living spaces close to the city centre.
RESOLVED that the surrender of the existing leases of land at Summerland Street and the grant of a new long lease (as set out in the report) be approved with the detailed terms to be agreed by the City Surveyor in consultation with the Director of Finance, Director of Corporate Services and the Council Leader.
Report author: Michael Carson
Publication date: 01/06/2022
Date of decision: 31/05/2022
Decided at meeting: 31/05/2022 - Executive