Purpose

The purpose of this report is to seek approval to transactions relating to land at Cables Way, Prescot, on the terms outlined in the report to facilitate the sale of the site to Aldi Stores Ltd for development of a mixed-use scheme comprising of new employment space, retail units, a new Aldi supermarket, car parking and associated infrastructure works that benefits from planning approval.

Decision

The Executive Director (Regeneration and Economic Development) in consultation with the Cabinet Member for Regeneration and Economic Development hereby:

i)        Approves the transactions relating to land at Cables Way, Prescot, in accordance with the terms and conditions set out within the report that are required to remove restrictions and discharge conditions affecting the Council’s freehold title to facilitate the sale and subsequent development of the site; and

ii)        Authorises the Head of Legal Services to complete the necessary legal documentation.

Alternative options considered

The Council could decide not to progress with the transactions to facilitate the sale of the site to Aldi Stores Ltd and retain the land, however, the Council would miss the opportunity to support the delivery of a mixed use scheme which accords with the objectives of the Council’s Growth Strategy, has been supported by the local community during previous consultations and approved at Planning Committee