Purpose

The property is within the Whitehouse Street
Regeneration Area. The prospective purchaser holds two long
leasehold interests in the property, at the time negotiations
started in early 2022, they had 36 years and 6 years remaining on
the respective leases. The disposal will be completed via a
conditional option agreement subject to the purchaser obtaining
planning permission to redevelop the site. The proposed
development, which is currently in planning will deliver policy
compliant affordable housing and commercial accommodation. In the
interim period, the property will be used to accommodate an interim
energy centre until April 2028 with an option to extend to April
2029.

Content

Pursuant to delegated powers authorised by
Cabinet on 6 February 2024 relating to Estate Rationalisation
– Surplus Asset Disposals. Authorises the disposal of 37/39
Whitehouse Street, Bedminster, Bristol BS3 4AY.

Alternative options considered

Alternatives to dispose of the freehold
reversionary interest were considered at the time, these include a
lease regear and gaining vacant possession of the site via
compulsory purchase. These alternatives were rejected in favour of
a freehold sale of the site. This method of disposal presents the
best outcome to the Council, it avoids costly alternatives, it will
achieve best consideration for the site, it meets the regeneration
aspirations for the area and accommodates an interim energy
centre.