Purpose

TWBC
acquired the Royal Victoria Place shopping centre in October
2023.  The report is seeking approval of
the updated RVP annual business plan post acquisition which
provides an analysis of the current income position, a short-term
business plan and cash flow, sensitivities to the cash flow, and
medium term plans for the centre.

Decision

RESOLVED –
 

That
the Royal Victoria Place 2024 Business Plan be
approved.

 

That delegated authority be given to
the Director of Finance, Policy and Development in consultation
with the Cabinet Member for Economic Development to approve
expenditure in line with the aims and objectives of the delivery of
the Business Plan be approved.

 
REASON FOR
DECISION:Approval will help
facilitate the delivery of the next phase of the Royal Victoria
Place management and support the delivery of the wider economic
development and place shaping objectives which formed the basis of
the long leasehold acquisition.