Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
1. That it be agreed that the council, as landowner of the River Park Leisure Centre, Gordon Road, Winchester, to enter into an agreement for lease to enable the University of Southampton to progress options for the extension of the neighbouring Winchester School of Art campus on the River Park Leisure Centre site.
2. That the Heads of Terms be agreed as in appendix B of report CAB3324. The Heads of Terms include a five year long ‘stop date’ during which time the University of Southampton will investigate and obtain planning consent for their proposed development.
3. That the land known as The River Park Leisure Centre, Gordon Road, Winchester, as identified within the red line at Appendix A be disposed, to the University of Southampton on a 150 year ground lease subject wholly to obligations set out in the Agreement for Lease.
4. That authority be delegated to the Corporate Head of Asset Management to enter into an Agreement for Lease with the University of Southampton in accordance with the heads of terms. This delegation is subject to agreeing the land price with the University of Southampton in accordance with S123 best consideration provisions and other relevant valuation assumptions.
5. That authority be delegated to the Corporate Head of Asset Management to enter into a ground Lease with the University of Southampton for the disposal of the land (identified as outlined in red in appendix A of CAB3324), such lease to be in accordance with the above-mentioned Agreement for Lease. Disposal is subject to a 150 year Ground Lease to the university, and payment of a capital sum by the university to the council. The capital sum for the disposal is to be calculated having regard to S123 best consideration provisions and other relevant valuation assumptions.
6. That the completion of the Agreement for Lease and the ground Lease, and any relevant ancillary agreements as are necessary to implement the recommendations above be delegated to the Service Lead Legal.
Reason Key: Expenditure > £250,000;
Contact: Geoff Coe, Corporate Head: Asset Management (Interim) Email: firstname.lastname@example.org.
Report author: Geoff Coe
Publication date: 23/11/2021
Date of decision: 23/11/2021
Decided at meeting: 23/11/2021 - Cabinet
Effective from: 03/12/2021