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Agreement to enter into conditional disposal of land at Temple Island to Legal and General on long lease subject to an agreement for lease and related agreements
18/08/2022 - Agreement to enter into conditional disposal of land at Temple Island to Legal and General on long lease subject to an agreement for lease and related agreements
Cabinet agreed on 4 February 2020 to approve
the conditional disposal of the land at Temple Island, Bath Road,
Temple Quarter by a long lease to Legal and General and to enter
into a related Agreement for Lease and related documents in order
to enable the delivery of a landmark mixed-use development on the
site including homes, employment space, office space and a hotel
and conference centre. The agreement contains various conditions
which would have to be satisfied for the lease to be granted. Phase
1 consists of residential buildings and Grade A office space and
Phase 2 consists of a hotel and conference centre and further homes
and office space. The Council agreed to carry out certain
remediation and enabling works as necessary for development of
Temple Island. The legal agreements have now been finalised and I
have authorised exchange and completion.