Decision details

To provide an update on key sites within the Slough Urban Renewal programme and contains recommendations to enable disposal to maximise  income to the Council and secure best value in accordance with the Asset Disposals Strategy

(a)  Agreed to the disposal strategy for the North West Quadrant (NWQ)  site and to delegate authority to the Executive Director Place and Community in consultation with the Lead Member for Financial Oversight and Council Assets and the section 151 officer to pursue that disposal strategy in accordance with the draft Heads of Terms , and to report back to Cabinet for approval to dispose of NWQ on the final agreed disposal terms subject to the demonstration of best value consideration for the disposal.

(b)  Agreed the updated Site Development Plans (SDPs) for Montem Lane and Stoke Wharf which recommend a disposal strategy for each site and to delegate authority to the Executive Director Place and Community in consultation with the Lead Member for Financial Oversight and Council Assets and the section 151 officer to pursue that disposal strategy (including the negotiation and agreement of all  legal documents that give effect to the Sale) and to report back to Cabinet for approval of the Adopted SDP’s and the final agreed disposal terms, subject to the  demonstration of best value consideration for the disposal.

(c)  Agreed to extend the current Option Agreement for Stoke Wharf up to 31st December 2022 to allow time for the disposal strategy referred to at b) to be pursued including (i) the marketing of the Stoke Wharf site and (ii) the agreement of legal documents needed to permit the disposal of the Stoke Wharf site prior to development.

(d)  Delegated authority to the Executive Director Place and Community in consultation with the Lead Member for Financial Oversight and Council Assets and the section 151 officer to approve a further extension to the Stoke Wharf Option Agreement, depending on the outcome of the marketing exercise to be undertaken in Autumn 2022, to allow for the Sale to complete in early 2023.

(e)  Noted that those parts of the Montem site which belong to the Council are no longer required for the purposes for which they are presently held, and recommend to full Council that officers be authorised to take all necessary steps to appropriate the site (shown edged red on the plan in Appendix 5) for planning purposes to facilitate the carrying out of development, re-development or improvement on or in relation to that land.

(f)  Noted the proposed timetable for the site disposals in para 3.1.6 of the report and further Cabinet decisions required to complete the disposals.