Decision details

The Cabinet Member considered the report of the Housing Market Renewal Director that sought authority to grant a 250-year lease to the Keepmoat Property Ltd, part of the Keepmoat Group for the 50-64 Stanley Road site, and to jointly fund the construction of twelve apartments for social rent and the 5694 sq ft of retail space.

RESOLVED: That Cabinet be recommended to:-

(1)      approve the granting of a Development Licence to the Keepmoat Property Ltd. for the 50-64 Stanley Road site in order to carry out the development of twelve apartments for social rent, and 5694 sq ft of retail space;

(2)      approve the granting of a 250-year ‘ground lease’ for the 50-64 Stanley Road site to Keepmoat Property Ltd. upon the successful completion of the scheme; and

(3)      subject to (1) and (2) above, approve the use of £885,152 of HMR grant funding in order to jointly fund the construction of the scheme.