Decision details

Councillor Eamonn O’Brien, Leader and Cabinet Member for Strategic Growth and Skills, presented the report which sought approval of several property acquisitions required to facilitate the physical development of the scheme to regenerate Bury Market and deliver a new flexible events hall. These properties have been identified as critical to deliver the redevelopment plans for the market and the surrounding area.

Decision:

Cabinet:

1.    Approved the acquisition of property at 51 Market Street in accordance with the terms set out in Part B of this report; and

2.    Delegated the finalised terms of the agreements to the Chief Executive in consultation with Cabinet Member for Finance, S151 Officer and Monitoring Officer.

Reasons for the decision:

To facilitate delivery of the Bury Market and Flexihall project in accordance with the Levelling Up bid submission and subsequent notification of a successful bid.

Other options considered and rejected:

·         An alternative option is to not purchase the property, this option was rejected as the land holding is required in order to continue with the Flexihall development.

·         The Council can seek to use compulsory purchase powers as an acquiring authority the Council is able to use compulsory purchase powers and acquire land without the consent of the landowner. The process however is not swift and could take in the region of 18-24 months to be concluded. The requirements of the levelling up bid stated that all funds would need to be defrayed by quarter 1 2025. This option has been rejected as the Council would not therefore have sufficient time to acquire the properties within the project delivery timeline.