Cabinet Member for Planning, Legal & Asset Management

To note the report and:

i)              Approve RBWM entering into a formal contract with Countryside outside of the Development Agreement to capture the capital value from Countryside’s headlease sale as relates to the notional 4,000 sq. ft commercial floorspace.

ii)             Delegate authority to the Executive Director of Place in consultation with the Cabinet Member for Planning, Legal and Asset Management and Managing Director of the Property Company to complete the contract with Countryside.

AGREED: That Cabinet noted the report and:

i)               Approved RBWM entering into a formal contract with Countryside outside of the Development Agreement to capture the capital value from Countryside’s headlease sale as relates to the notional 4,000 sq. ft commercial floorspace.

ii)             Delegated authority to the Executive Director of Place in consultation with the Cabinet Member for Planning, Legal and Asset Management and Managing Director of the Property Company to complete the contract with Countryside.

Councillor Bermange outlined the report that was before Cabinet. He said that it had originally been scheduled to appear at October Cabinet, however some additional work had occurred since then, hence its appearance at the November Cabinet meeting.

Councillor Bermange said that Council had been in a development partnership with a company called ‘Countrycide’ for a number of years. One of the sites that had been developed, was the site in question at York Road, Maidenhead. Phase I had now been completed, but at this stage phases II and III were not to be pursued. He outlined some of the commercial units that now resided within this site, which had in turn brought further life to that area of Maidenhead. He then outlined the ways in which Countrycide could proceed, and explained the recommended approach to Cabinet which was outlined within the recommendations of the report.

One appendix was listed in part II however this was considered by the Cabinet in part I.

AGREED: That Cabinet noted the report and:

i)               Approved RBWM entering into a formal contract with Countryside outside of the Development Agreement to capture the capital value from Countryside’s headlease sale as relates to the notional 4,000 sq. ft commercial floorspace.

ii)             Delegated authority to the Executive Director of Place in consultation with the Cabinet Member for Planning, Legal and Asset Management and Managing Director of the Property Company to complete the contract with Countryside.