Pacific Road Arts Theatre and Tramway
Decision Maker: Cabinet,
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Councillor A Jones, having declared a prejudicial interest (minute 113 refers) left the meeting whilst this item was considered.
The Director of Law, HR and Asset Management reported upon the outcome of the previously agreed disposal process for the Pacific Road Arts Theatre and Tramway. The report identified changes in circumstances since the disposal process began, considered issues arising and recommended that a further marketing exercise be undertaken to dispose of the assets. There were already four potential bids.
(1) That the outcome of the previous disposal process be noted.
(2) That the Director of Law, HR and Asset Management be instructed to remarket Pacific Road, the Transport Museum and Tramway on the basis set out in the report, and to report the outcome to a future Cabinet meeting.
(3) That the final shortlisted bidders in the previous disposal process be thanked for their interest and their work to submit a bid, and they be invited to submit further proposals on the revised basis set out in this report within a further competitive process.
Publication date: 28/09/2011
Date of decision: 22/09/2011
Decided at meeting: 22/09/2011 - Cabinet
Effective from: 06/10/2011