Issue - meetings

Background:

This report suggested an extension to the current delegation for the disposal of land at Innovation Park Medway (decision 59/2019 refers) to include the possibility of a joint venture as market changes had since suggested this may be a more viable route for some parcels of the site. 

This suggestion built upon the Delivery and Investment Plan which formed the basis for investment to ensure the site came forward as a high quality, innovative development in the high-value technology, engineering, manufacturing and knowledge-intensive sectors.

Prior to determining the best route for disposal, market testing was recommended to be undertaken, in order to understand the appetite for a joint venture on one or more clusters of the site, to facilitate a critical mass and high quality development.

Reasons:

To facilitate the disposal and development of the land at Innovation Park Medway to achieve best value.