Issue - meetings

Council is asked to:

1)    Approve the Heads of Terms for the Council to enter into an Agreement of Lease with the proposed tenant for the Waterfront Site, Bridge Street, Staines-upon-Thames to facilitate the delivery of a new hotel led regeneration on this prime riverside site,

2)    Delegate authority to the Chief Finance Officer in consultation with the Leader to agree any minor variations to the Heads of Terms and the final terms of the Agreement for Lease subject to valuation advice received,

3)    Delegate authority to the Group Head of Corporate Governance in consultation with the Leader to finalise and enter into the Agreement for Lease and any other associated documentation in connection with the grant of the Lease to the proposed tenant; and

4)    Note the Local Government Act S.123  ‘Best Value’ valuation undertaken by Cushman and Wakefield in respect of the proposed terms of this transaction.

Appendices 1, 2 and 3 contain exempt information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to information) (Variation) Order 2006 Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information) and in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because, disclosure to the public would prejudice the financial position of the authority in any contract or other type of negotiation with the proposed contractor who could then know the position of the Council. 

It was proposed by Cllr Sexton and seconded by Cllr Bateson to move the exclusion of the Press/Public for Appendices 1, 2 and 3 as they contained exempt information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to Information)(Variation) Order 2006 Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information) and in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because, disclosure to the public would prejudice the financial position of the authority in any lease, contract or other type of negotiation with the tenant or developer, who could then know the position of the Council.

Council moved back into an open session to take a vote on this item. Cllr Boughtflower requested a named vote.

Council resolved to:

1.    Approve the Heads of Terms for the Council to enter into an Agreement for Lease with the proposed tenant for the Waterfront Site, Bridge Street, Staines-upon-Thames to facilitate the delivery of a new hotel led regeneration on this prime riverside site,

2.    Delegate authority to the Chief Finance Officer in consultation with the Leader to agree any minor variations to the Heads of Terms and the final terms of the Agreement for Lease subject to valuation advice received,

3.    Delegate authority to the Group Head of Corporate Governance in consultation with the Leader to finalise and enter into the Agreement for Lease and any other associated documentation in connection with the grant of the Lease to the proposed tenant; and

4.    Note the Local Government Act S. 123 ‘Best Value’ valuation undertaken by Cushman and Wakefield in respect of the proposed terms of this transaction.

The Committee is asked to recommend to Council to:

1.    Approve the Heads of Terms for the Council to enter into an Agreement for Lease with the proposed tenant for the Waterfront Site, Bridge Street, Staines-upon-Thames to facilitate the delivery of a new hotel led regeneration on this prime riverside site,

2.    Delegate authority to the Chief Finance Officer, in consultation with the Leader, to agree any minor variations to the Heads of Terms and the final terms of the Agreement for Lease subject to valuation advice received,

3.    Delegate authority to the Group Head of Corporate Governance in consultation with the Leader to finalise and enter into the Agreement for Lease and any other associated documentation in connection with the grant of the Lease to the proposed tenant; and

4.    Note the Local Government Act S.123 ‘Best Value’ valuation undertaken by Cushman and Wakefield in respect of the proposed terms of this transaction.

Committee resolved to recommend to Council that it:

1.    Approve the Heads of Terms for the Council to enter into an Agreement of Lease with the proposed tenant for the Waterfront Site, Bridge Street, Staines-upon-Thames to facilitate the delivery of a new hotel led regeneration on this prime riverside site,

2.    Delegate authority to the Chief Finance Officer in consultation with the Leader to agree any minor variations to the Heads of Terms and the final terms of the Agreement for Lease subject to valuation advice received,

3.    Delegate authority to the Group Head of Corporate Governance, in consultation with the Leader, to finalise and enter into the Agreement of Lease and any other associated documentation in connection with the grant of the Lease to the proposed tenant; and

4.    Note the Local Government Act S.123 ‘Best Value’ valuation undertaken by Cushman and Wakefield in respect of the proposed terms of this transaction.

The Committee considered a report that sought approval to make a recommendation to Council in respect of the proposed Heads of Terms to enable the Council to enter into an Agreement of Lease with the proposed tenant for the Waterfront Site, Bridge Street, Staines-upon-Thames.

The Committee were advised that there were no proposals to sell the land and that the Council would retain the freehold and therefore would have control over any development on the site. Officers and councillors had been working with the proposed tenant and a revised demise envelope had been considered that would reduce the height of any development from 30 metres down to 25 metres. Any changes to the aforementioned 25 metres would have to be brought back to the Committee to gain approval. If they were to build above 25 metres without agreement, they would be in breach of agreement and the Council would not grant them a lease.

The Committee was keen that the local residents’ concerns were taken into account and were advised that a public consultation would take place.

Proposed by Councillor Bateson

Seconded by Councillor Williams

And resolved to enter into a closed session to discuss exempt information provided in the report.

The meeting went back into an open session once the exempt information had been discussed.

Committee resolved to recommend to Council that it:

1.    Approve the Heads of Terms for the Council to enter into an Agreement of Lease with the proposed tenant for the Waterfront Site, Bridge Street, Staines-upon-Thames to facilitate the delivery of a new hotel led regeneration on this prime riverside site,

2.    Delegate authority to the Chief Finance Officer in consultation with the Leader to agree any minor variations to the Heads of Terms and the final terms of the Agreement for Lease subject to valuation advice received,

3.    Delegate authority to the Group Head of Corporate Governance, in consultation with the Leader, to finalise and enter into the Agreement of Lease and any other associated documentation in connection with the grant of the Lease to the proposed tenant; and

4.    Note the Local Government Act S.123 ‘Best Value’ valuation undertaken by Cushman and Wakefield in respect of the proposed terms of this transaction.

With the approval of the Chair, this item has been withdrawn from the agenda.

With the Chair’s approval, this item was withdrawn from the agenda and would be considered at a future meeting.