Decision details

Pump House, Esplanade, Southport

Decision Maker: Cabinet Member - Regulatory, Compliance and Corporate Services

Decision status: Awaiting Implementation

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To seek approval from Cabinet Member to a change in purchaser name for the grant of a building lease followed by a 125 year lease of the former Pump House premises on the Esplanade adjacent to Kings Gardens in Southport.

 

Decision:

Decision(s):

 

(1) That the change in purchaser name in relation to the grant of a Building Lease followed by a 125 year Lease of the subject premises, for the reasons detailed within this report be approved; and

 

(2) That the Chief Democratic and Legal Services Officer be authorised to complete the necessary legal documentation.

 

Reasons for the Decision(s):

 

1.    By virtue of a report dated 26 November 2021, Cabinet Member approved the recommendation that subject to the receipt of planning permission for the proposed use, the Council enter into a Building Lease followed by a 125 year lease with the Company submitting the highest offer, which is detailed within the exempt Appendix, attached to this report.

2.     Whilst it is requested that there be a change in the purchaser name, it is merely the Company who were given approval to the Building Lease and subsequent 125 year lease setting up a Special Purchase Vehicle (SPV) in order to undertake the building project.

 

3.     Converting the property into to a community restaurant is still the intention and all other previously agreed terms will remain the same.

 

Alternative Options Considered and Rejected: (including any Risk Implications)

 

1.    The Council could refuse the change in name however, this could jeopardise the deal progressing.  If the deal where to fall through, the Council would have to remarket the property again.  The continuing deterioration of the premises means that the Council may have to invest significant capital expenditure to bring the premises up to a reasonable condition.

2.    Retention of the premises in their current condition would act as a blight to this area of Kings Gardens which has had significant funding in recent years.

 

Publication date: 17/11/2022

Date of decision: 17/11/2022

Effective from: 26/11/2022

Accompanying Documents: