To seek approval for the development proposals at Curzon Street (Pioneer Place) and Manchester Road.
Minutes:
Purpose
To seek approval for the development proposals at Curzon Street (Pioneer Place) and Manchester Road.
For clarification the consultation with the Scrutiny Committee on this item would be at its meeting on 10th December 2018.
An all member briefing on this item and “On the Banks” scheme would take place on 19th December 2018 prior to the Council meeting.
Reason for Decision
Approving this recommendation will enable the Council to deliver a major new town centre regeneration scheme, which is a key project in the draft Burnley’s Town Centre & Canalside Masterplan and in the Town Centre Strategy 2016.
The opportunity for a major leisure-led mixed use development in the Town Centre will bring new visitors into the town centre during both the day and night time. It is also key to the future development and growth of UCLAN, who see this development as essential in terms of providing a competitive student experience.
The scheme will produce the following economic benefits:-
• 300 Full Time Equivalent Jobs, plus temporary construction jobs
• £13m Gross Value Added per annum
• £400,000 additional business rates per annum, of which the Council would potentially receive around 20% of this as growth.
This is a major strategic project for the Council, helping to transform the town centre and Burnley as a place of choice for residents, visitors and investors.
Decision
(1) That the proposal and financial business case as set out in this report be approved;
(2) That Full Council be recommended to approve the funding of the
development, including the acceptance of grant funding from Lancashire County Council, as detailed in the Financial Implications Section of the report;
(3) That Full Council be recommended that the project is included in the
capital programme, as set out in the Financial Implications Section of the report;
(4) That it be noted that before construction will commence the scheme
requires:
i. a pre-let to be completed for the new supermarket on Manchester
Road;
ii. a pre-let to be completed for the new cinema on Pioneer Place;
and
iii. pre-lets to be completed for 75% of the remaining units on Pioneer
Place including Unit 2 adjacent the cinema, with the said pre-lets achieving a minimum of 75% of the estimated full rent payable;
(5) That the Strategic Head of Economy & Growth and the Head of Finance & Property be authorized to negotiate and agree terms for the relevant agreements (including ancillary property documentation to the relevant occupiers);
(6) That the Head of Finance & Property be authorised to complete all
financial documents necessary to give effect to this decision; and
(7) That the Head of Legal & Democratic Services be authorised to complete all legal documents necessary to give effect to this decision (including appropriation of any land under Section 122 of the Local Government Act 1972, to enable disposal pursuant to section 233 of the Town and Country Planning Act 1990).
(8) It was noted that the Scrutiny Committee would be consulted on this report at its meeting on 10th December 2018; and
(9) That an all member briefing on Pioneer Place and On the Banks would be held on 19th December 2018 prior to the Council meeting.