Issue - meetings
Rochester Riverside Retail Unit
Meeting: 15/07/2014 - Cabinet (Item 10)
10 Rochester Riverside Retail Unit 
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Minutes:
Background:
This report sought delegated authority to acquire the vacant retail unit on Rochester Riverside.
Rochester Riverside is a flagship project in the Council’s regeneration programme and it was reported that the first phase of development – the Southern Gateway - had already been delivered through the completion of 73 affordable housing units by Hyde Housing and the creation of the ‘Southern Gateway’ public square.
It was noted that Block 1 of the Hyde Housing scheme (Royal Oak House) included a ground floor retail unit. The intention was for the unit to provide an amenity for local residents, in accordance with the principles of mixed-use development at Rochester Riverside including housing, retail, commercial and public open spaces. The unit had however remained vacant and, given its location in a key strategic gateway to the site, it was proposed that it be acquired to enable its letting to a tenant who would meet the Council’s aspirations for the regeneration site.
It was proposed that the unit be purchased using Growing Places Funding allocated to the Rochester Riverside project, in the Council’s approved capital programme.
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Decision number: |
Decision: |
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125/2014 |
The Cabinet agreed to delegate authority to the Assistant Director, Legal and Corporate Services, in consultation with the Leader, to:
a) Acquire the shell and core of the vacant retail unit together with any ancillary areas (for example parking and forecourts etc) on Rochester Riverside.
b) Enter into a deed of variation of the head-lease granted to Hyde.
c) Sub let the unit to an occupier(s). |
Reasons:
To ensure the continued regeneration of a key strategic gateway to the Council priority development site.