Decision details

To agree to the terms for the acquisition of the Wilkinson’s building, Talbot Road.

The Executive agreed the recommendations as outlined above namely:

1. To confirm agreement to the acquisition of the Wilkinson’s building taking the premises subject to the existing occupations. To confirm the funding of the acquisition via Prudential Borrowing, repaid initially by the income from the current occupiers as outlined in paragraphs 9.4 and 9.6.

2. To Prudentially Borrow a total of £7.8m over a term of up to fifty years to fund the purchase of the building and the subsequent demolition and site preparation ready for future development. 

3. To authorise officers to explore the possibility of selling part of the site to the Homes and Communities Agency (HCA).

4. To reserve part of the site for the future use as a tramway terminus.