Issue - meetings

Marketfield Way Update December 2019

Meeting: 05/12/2019 - Executive (Item 79)

Marketfield Way Update, December 2019 (Exempt)

To consider exempt information in relation to Marketfield Way.

Supporting documents:

Minutes:

RESOLVED that the exempt information in relation to Marketfield Way be noted.


Meeting: 05/12/2019 - Executive (Item 75)

75 Marketfield Way Update, December 2019

To consider an update in relation to Marketfield Way.

Supporting documents:

Decision:

RESOLVED that:

 

(i)              The progress that had been made to deliver stage three of the project, in relation to land assembly, detailed design, build contract negotiations and the securing of pre-lets, be noted.

 

(ii)             The Director of Place Services, in consultation with the Leader, Deputy Leader and Executive Member for Place and Economic Prosperity, be authorised to:

 

-        conclude stage three of the project by agreeing the final terms and sealing and completing a building contract, subject to the revised financial parameters set out in the exempt report in Part 2 of the agenda.

-        progress stage four of the project, in accordance with the management actions and revised financial parameters set out in the exempt report in Part 2 of the agenda, including the implementation and construction of the scheme.

 

 

Minutes:

Councillor E. Humphreys, Executive Member for Place and Economic Prosperity, introduced the update on the Marketfield Way project. Marketfield Way was a significant opportunity for the Council to transform an existing underutilised brownfield site, and create a high-quality mixed-use development that would contribute to the Council’s corporate priority to revitalise Redhill town centre. The development would include a multiscreen cinema, as well as restaurants, shops and new homes, which would improve the social, economic and environmental wellbeing of both Redhill and the wider Borough. Since the last update to Executive in 2018, the Council had:

-           Made good progress with land assembly, a Compulsory Purchase Order had been implemented which would result in all land interests and rights being acquired, and vacant possession being obtained, by 24 December 2019,

-           Selected Vinci Construction UK Ltd as the contractor, and were now at an advanced stage in agreeing a final building contract,

-           Entered into a pre-sale agreement for all 150 flats,

-           Entered detailed negotiations with potential commercial tenants, including cinema operators and retailers; and

-           Instructed enabling works, including the demolition of properties fronting the High Street and the closure of Marketfield Way car park.

It was noted that the anticipated costs were within the budget allocated in the Council’s Capital Programme, subject to the revised financial parameters set out in the report in Part 2 of the agenda. The Part 2 report also outlined the management actions necessary for the Council to progress the project. 

In response to questions from Visiting Members, it was confirmed that the pathway alongside the development would be kept open, cycle racks would be re-provided, but not immediately; and that the environmental impact of the development was compliant with the Planning Consent. The Head of Place Delivery undertook to prepare a written response to:

-           Identify the proposed mitigation, if any, of the loss of the area opposite the Belfrey, which was currently used by taxis, and for the pick-up and drop-off of those with limited mobility; and

-           Outline the environmental sustainability of the development.

RESOLVED that:

(i)         The progress that had been made to deliver stage three of the project, in relation to land assembly, detailed design, build contract negotiations and the securing of pre-lets, be noted.

 

(ii)        The Director of Place Services, in consultation with the Leader, Deputy Leader and Executive Member for Place and Economic Prosperity, be authorised to:

 

-           conclude stage three of the project by agreeing the final terms and sealing and completing a building contract, subject to the revised financial parameters set out in the exempt report in Part 2 of the agenda.

-           progress stage four of the project, in accordance with the management actions and revised financial parameters set out in the exempt report in Part 2 of the agenda, including the implementation and construction of the scheme.

Reason for decision: To support the development of the project and the Corporate Plan objective to ensure that the borough remains a great  ...  view the full minutes text for item 75