Resolved – That,

(1)  the Full Business Case for the acquisition of the land and rights of ‘Town Centre Retail Warehouse - 107-127 Claughton Road Birkenhead’ be approved, thereby agreeing in principle for the Council to purchase the long leasehold interest in this site;

(2)  the Director of Economic and Housing Growth, be authorised in consultation with the Director of Finance and Investment to finalise the purchase of the leasehold interest in the Property on terms that are substantially in accordance with Council acquisitions guidelines; 

(3)  it be agreed that, once the leasehold interest in the Property is acquired, the freehold interest in the Property can be incorporated into the LLP Option Agreement on appropriate terms subject to approval of the LLP and the outcomes of consultation on regeneration plans.

(4)  it be agreed that, once the long leasehold interest in the Property is acquired and the Property is vacated by the occupying tenant, the buildings currently on the Property subject to planning permission and surveys can be demolished subject to the outcome of consultation on the regeneration plans.