Decision

1. That
Cabinet agree to sell the land at Cornwallis Street to Whitbread
PLC on the proviso that the Premier Inn hotel is built at their
expense, within a reasonable timeframe (to be confirmed subject to
legal due diligence) and that the council is released from all
liabilities contained in the current agreement.
2. That
the Chief Executive, Chief Legal Officer and Chief Finance Officer
be delegated authority to conclude the legal details of the new
agreement (as per the requirements set out in the Part II
confidential report) with Whitbread Plc in consultation with the
Leader of the Council and the Finance Portfolio Holder.