Decision details

Cabinet decision on 04 September 2018 “Creation of the Housing Company” authorised the Executive Director of Growth and Regeneration in consultation with the Cabinet Member for Housing and the Service Director of Finance to approve the transfer of land at Romney House, Lockleaze and the Baltic Wharf Caravan Club site to the Housing Trading Company (Goram Homes Limited) on terms to be agreed.
Baltic Wharf Caravan Site benefits from resolution to grant planning permission subject to S106 (ref 21/01331/F) for the ‘Erection of residential dwellings, commercial floorspace, integrated car and bicycle parking, refuse storage, landscaping and associated infrastructure and services’. The proposed development consists of 6 blocks and includes 166 residential units comprising 40% affordable.
The Council was recently awarded Brownfield Land Release Fund grant of £2,441,957 towards the scheme.
The option agreement is to be entered in advance of the land contract and will enable Goram to secure an immediate legal interest in the land and sign the S106 which will ultimately benefit the overall programme delivery. The option will run for an initial period of 12 months or the date the parties enter the land contract (whichever is the later). The subsequent land contract will ensure all key contractual terms and safeguards for the Council with the value demonstrating best consideration.
It should be noted the option agreement will be completed prior to the new Harbour Revision Order being in place.

Approval to enter into an initial option agreement with Goram Homes in advance of the land contract and the Harbour Revision Order.

Option 1 - The alternative is to progress negotiations on the contract of sale without the option. This would not only delay Gorams ability to secure a legal interest in the land but impact the overall delivery programme.