Decision details
Potential Acquisition of former Magistrates Court
PDF 110 KBDecision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To seek approval for the aquisition of the
former magistrates court.
Decisions:
RESOLVED that:
i. The Executive authorises the Chief Officer: Property to negotiate the acquisition of the Magistrates Court on the Heads of Terms at Paragraph 5.6 of the Director of Corporate Services report.
ii. The Executive authorises the Chief Officer: Property to agree variations in the Heads of Terms with the agreement of the Executive Member for Transformation and Finance in conjunction with the Director of Corporate Services.
Reasons for the decision:
The acquisition of this site together with a pre-emptive option currently under negotiation with the Police would potentially give the Council virtual control of the entire area surrounding Easthampstead House for a future comprehensive redevelopment scheme. This would be the preferred position for achieving maximum value for the Easthampstead House/Town Square site.
Alternative options considered:
Remain as we are, and forgo the opportunity of the acquisition. This would make the future disposal of the Town Square site more difficult to action and less valuable as it wouldn’t be completely under the Council’s ownership and any potential bidder for Easthampstead House would need to plan redevelopment alongside a third party.
Interests and Nature of Interests Declared:
None.
Reason Key: Expenditure > £400,000;
Wards Affected: Wildridings & Central;
Financial Impact: The Council will require funding of around £775,000.
Declarations: None
Subject to Urgent Proceedings: No
Making Representations: In writing to the Director of Corporate Services.
Other reasons / organisations consulted
Meetings with Councillors
Consultees
Town Centre Regeneration Committee
Contact: Steven Caplan, Assistant Director: Property Email: steven.caplan@bracknell-forest.gov.uk Tel: 01344 352474.
Report author: Steven Caplan
Publication date: 09/02/2016
Date of decision: 09/02/2016
Decided at meeting: 09/02/2016 - Executive
Effective from: 17/02/2016