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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.