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Decision details

Aequus: Scheme Approval (Malmains Drive, Frenchay) and Scheme Amendment (117 Newbridge Hill, Bath) (WL)

Decision Maker: Council Leader

Decision status: Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To approve the acquisition and development of the Malmains Drive site from South Gloucestershire Council by ACL in line with the approved planning application to be funded by a commercial development loan from South Gloucestershire Council; and to amend the previously agreed scheme at 117 Newbridge Hill, Bath to provide 7 apartments rather than the originally agreed 6 apartments.

Decision:

The Council Leader agrees:

 

·  A revision to the Business Case for 117 Newbridge Hill Bath to replace the proposed top floor two-bed apartment with 2 one-bed apartments.

·  To approve the amendment of the related Development Agreement to reflect the above change in configuration.

·  To approve the acquisition of the site at Malmains Drive, South Glos under a Sales and Overage Agreement for development in line with the approved planning application.

·  To approve the development loan borrowing from South Glos Council on the commercial terms as set out in the Business Case to deliver this development.

 

Reasons for the decision:

The recommendations set out in this report are in line with the Aequus Business Plan and will enable the Council’s development Company ACL to continue to develop and, deliver the objectives set for it by the Council (as Shareholder).  The decision will enable the provision and delivery of new homes and support the delivery of the income targets set for the Company in the Council’s approved Medium-Term Financial Plan.

Alternative options considered:

Not to proceed.

Interests and Nature of Interests Declared:

None

Publication date: 30/03/2022

Date of decision: 30/03/2022

Accompanying Documents: