Purpose

Waterfront Place has remained vacant and
undeveloped for many years. The site is in the freehold ownership
of the Council, and the land forms part of the Harbour estate. The
Council selected a private sector development partner to bring the
development forward and a conditional agreement for headlease was
entered in 2019.
The contractual long stop date has passed and neither condition
precedent has been satisfied. Approval is therefore sought to serve
formal notice and terminate the agreement.

Content

Approval to serve notice and terminate the
agreement was taken as an officer decision after consultation with
the relevant committee chair.

Alternative options considered

No other options have been considered