Decision details

Further to minute 391 of 9 April 2013, the Cabinet considered the report circulated with the agenda. Mrs Keegan introduced the report, which sought approval for a variation to the original development agreement relating to the Council’s land at Barnfield Drive, Chichester, and authority for negotiations relating thereto. Cabinet Members were shown a map of the Council’s land holdings and the proposed development.

Mr Harrison (Strategic Asset Management Surveyor) reported that phase 1 of the development was almost complete, but the Council’s development partner was seeking a variation of the agreement in relation to the development of phase 2, in order to reflect changed market conditions in the retail warehousing sector, increased construction costs, and the impact of planning conditions and highway requirements. The impact of these changes had been confirmed by a feasibility review by the Council’s development consultants.

RESOLVED

(1)  That a variation to the original development agreement relating to the Joint Venture Development Agreement with the Brookhouse Group for the development of the land owned by the Council at Barnfield Drive, Chichester be approved on the principle set out in paragraph 5 of the report.

(2)  That the Head of Commercial Services be authorised to negotiate and, after consultation with the Cabinet Member for Commercial Services, to agree terms in respect of matters that may arise as the legal documentation is processed and to grant ground leases relating to individual sites, in accordance with the principles of the Development Agreement as revised.