Decision details
Western Gateway Town Centre Land and Property Acquisitions
Decision Maker: Cabinet Member - Business, Employment and Enterprise
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
The purpose of this report is to seek approval
to purchase the leasehold interest of a unit within the Spindles
and Town Square Shopping Centre to avoid it going to auction.
Decision:
RESOLVED - To approve the submission of an
expression of interest to purchase of the leasehold interest
outside of a public auction process.
Reasons for the decision:
Option 1 - Do nothing and allow third party
interests to acquire the lease hold. Should the Council not
progress the acquisition then the risks of third party control,
lettings and future financial and legal claims are a high risk to
the future redevelopment of the asset and reputation of the town
centre.
Option 2 - Acquire via Auction. It is anticipated that there will
be a significant amount of interest in this leasehold, and
therefore this option will be a costly exercise.
Option 3 - Acquire by negotiation. Acquiring by negotiation will
enable the Council to swiftly deliver a site within the
Council’s control – out of public visibility and to
assist with the delivery of the ambitions for redevelopment and
future management of the site.
Alternative options considered:
Options 1 and 2.
Other reasons / organisations consulted
Consultation undertaken with the internal
project team and Corporate Property Board. No conflict of interests
declared.
Contact: Emma Barton, Deputy Chief Executive (Place) Email: emma.barton@oldham.gov.uk Email: emma.barton@oldham.gov.uk.
Publication date: 07/04/2021
Date of decision: 08/03/2021
Effective from: 15/04/2021
Accompanying Documents:
- Restricted enclosure View reasons restricted