Decision - New England House & Longley Industrial Estate

1)    That the committee agrees the Heads of Terms (“HoTs”) set out in Appendix 1, as forming the basis for a development agreement with Arcus-PCD, in order to work towards the integrated mixed-use development of the New England House and Longley Industrial Estate sites and secure the refurbishment and expansion of New England House, together with substantial levels of new employment floorspace and housing.

2)    That the committee notes that the HoTs includes reference to the possible use of compulsory purchase powers to acquire the long leasehold interest of the Longley Industrial Estate, while continuing to help facilitate an agreed sale of the lease from the current leaseholder to Arcus.

3)    That the committee authorises the Head of Legal Services to enter into (a) the development agreement referred to in the HoTs and if compulsory purchase is not required  (b) the lease referred to in the HoTs,

4)    That the committee agrees that if the development agreement is entered into but the parties agree that compulsory purchase of the leasehold interest referred to in 2.2 is necessary, a further report will be required to authorise the making of such an order.