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Payment of air space levy to the Crown Estate for the St Philips Footbridge, funded by Temple Island Enabling Works.
The Council must pay the Crown Estate (TCE)
for the Right of Air being granted over TCE land in order to
provide the St Philips Footbridge connection between Temple Island
and Albert Road. The Valuation Report produced for BCC relies on
comparable transactions for rights acquired from TCE for similar
bridges/crossings of their land to assess the value of this levy
charge. The proposed sum includes for back payments of rent plus a
final capex lump sum for 999 year/in perpetuity lease. This has
been in discussion between TCE and BCC since 2018. It is
recommended that now is the right time to finalise the negotiation,
as more construction work begins the TQ area.
TCE originally requested £300,000 in 2021. In August 2023 TCE
agreed to a sum of £117,500 plus costs, based on a £/m2
as agreed for their Cardiff bridge and making a 50% discount for
our bridge.
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 11/09/2023
Decision due: 7 Sep 2023 by Director: Property, Assets and Infrastructure
Lead member: Marvin Rees, Mayor mayor@bristol.gov.uk
Contact: Louise Baker, Executive Support Manager Email: louise.baker@bristol.gov.uk.
Decisions