Issue - meetings

Report of the Leader and Cabinet Member for Strategic Growth is attached.

Report of the Leader and Cabinet Member for Strategic Growth is attached.

The Leader and Cabinet Member for Strategic Growth introduced the report.  Following public consultation, a name has been agreed for the flexi hall, ‘Casewell’s’.

Councillor O’Brien thanked everyone who has been part of the project up until now. 

Councillor Mike Smith ask a question regarding Radcliffe Market Councillor Morris confirmed she would contact Cllr Smith to update on the matter.

Councillor Tariq highlighted that this is a significant step forward for the borough and will benefit the local community. 

Councillor Walmsley welcomed the development and is assured it will improve the town centre.  

Decision

Cabinet: 

1.    Approved the grant of a lease for a term of 15 years with an option to grant a further 10-year term to MEB to occupy the ground floor and if required part of the 1st floor for use as a food and events hall. 

2.    Approved a 12-month rent free period. 

3.    Approved the loan to MEB of up to £1.1m. 

4.    Delegated any minor variations to the final Heads of Terms and Key Performance

5.    Indicators (KPIs) to the Assistant Director for Corporate Assets and Facilities Management. 

6.    Delegated the commercial terms of the loan facility to the Section 151 Officer. 

7.    Delegated the signing of all the required documents to complete the transaction, including the Agreement for Lease, Lease and Loan Agreement to Director of Law and Governance. 

8.    Noted that the name selected for Bury Flexi Hall as ‘Casewells’.

Reasons for decisions: 

MEB has a strong track record in delivering and operating successful food, drink and events venues, providing confidence in their ability to activate and manage Casewells effectively.

Granting the lease and enabling the associated loan for fitout works will ensure the operator can deliver a high-quality food and events venue, supporting the Council’s regeneration objectives for the town centre. 

Alternative options considered and rejected 

·         Do not proceed with the lease and loan to MEB and Bury Council operate and manage the facility directly. This option has been discounted due to lack of internal capacity and experience of operating modern food and entertainment facilities.

·         Lease to another third party. The Council undertook a procurement exercise to secure best terms for a third party and this bid aligns with the Council's objectives and timescale for delivery. To rerun the exercise would delay the opening of Casewells and incur further cost to the Council and could negatively impact the Councils reputation.