Decision details

1. Cabinet approved the Council entering in to a non-binding strategic partnership with Legal & General and to delegate authority to the Executive Director for Growth and Regeneration, in conjunction with the Deputy Mayor Finance Governance and Performance, to negotiate and agree a non-legally binding Memorandum of Understanding to support this.

2. Cabinet approved the City Council committing, in principle, to the conditional disposal of the Temple Island site to L&G on a long leasehold basis – in a way which demonstrates best consideration – and to the Council entering in to an Agreement for Lease relating to an office building not exceeding 100,000 sq ft (NIA) to be constructed on the Temple Island site through a first phase of works.

3. Cabinet approved a project budget of up to £0.5m to support the development of proposals for the Temple Island site. This funding to be utilised for internal BCC staff time and fees, professional consultancy fees, site and survey work and including an appropriate contingency allowance.