Issue - meetings

Report of the Deputy Chief Executive (Place)

The Cabinet considered a report of the Deputy Chief Executive (Place) that sought approval of the grant of a new long lease over Car Park C, Ricoh Arena, in order to facilitate the development of a hotel.

The development of a new hotel on Car Park C at the Ricoh Arena had been a long term ambition of the Council. It was recognised that additional hotel accommodation would support events and conferencing at the Ricoh Arena but more importantly across the City as a whole.

Car park C remained in Council ownership. It was located opposite the Ricoh Arena and Arena Park developments on the western side of the A444. The site extended to approximately 3.5 ha (8.6 acres) and was mainly used for events parking for cars and coaches associated with the Ricoh Arena and was accessed directly from the A444.

Wasps Holdings Ltd (WHL) had recently approached the Council to request the grant of a new long lease over Car Park C in order to facilitate the development of an up to 150 bed hotel. The report set out the proposed terms of the lease, and the protections to be put in place to secure the Council’s position. 

RESOLVED that the Cabinet:

1)  Approves the grant of an initial licence over Car Park C, shown edged red on Plan 1 attached as Appendix 1 to the report, to WHL on income sharing terms to expire no later than 30^th November 2019.

2)  Approves the grant of a long lease of the area shown edged red on Plan 1 attached as Appendix 1 to the report, to WHL which shall be co-terminus with the lease on the remainder of Ricoh Arena, to facilitate the development of the new hotel subject to planning consent for the development of a hotel being granted. 

3)  Approves the grant of a car parking licence to WHL over the Leisure Land, shown edged red on Plan 2 attached as Appendix 1 to the report, in order to provide additional car parking to support the Ricoh Arena and to provide replacement car parking during the construction of the hotel.

4)  Delegates authority to the Director of Project Management and Property Services, following consultation with the Cabinet Member for Jobs and Regeneration, to finalise the terms of the licence and lease, subject to this report and for any subsequent variation in terms. 

5)  Delegates authority to the Head of Legal Services to execute all the necessary documentation for the initial licence, option and lease referred to in the report.