Commercial Property Acquisitions in the Urban Core
Report of the Strategic Director, Corporate Services and Governance
Additional documents:
Minutes:
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Consideration has been given to the acquisition of three property investments in the Oakwellgate area/urban core area to enable regeneration and to complement major regeneration activity in the urban core. |
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RESOLVED - |
(i) |
That the acquisitions of the former Tyne Bridge Tower site and land to the rear of Langford & Kent House; Langford & Kent House and Auto Trader House be approved. |
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(ii) |
That the Service Director, Legal, Democratic & Property Services be authorised to negotiate the terms of the individual transactions. |
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The above decisions have been made for the following reasons: |
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(A) |
To complement existing co-ownerships. |
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(B) |
To enable regeneration to commence in future without the requirement for a Compulsory Purchase Order. |
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(C) |
To assist with the redevelopment of Gateshead Quays, which is situated immediately adjacent to the properties. |