Decision details

This report seeks approval for the Council to acquire the long leasehold interest in premises known as 31/35 Arundel Gate, Sheffield (“the Premises”).

The acquisition of the Premises will be conditional upon the Executive Director of Place having sufficient confidence that funding from The Sheffield City Region Investment Fund (SCRIF) for the delivery of the Knowledge Gateway project, of which the acquisition of the premises forms a key component, will be forthcoming.

That the Cabinet Member for Finance:-

(i) authorises the Executive Director of Place in consultation with the Executive Director of Resources to instruct the Chief Property Officer and the Director of Legal and Governance to

·         Enter into all necessary Legal Agreements for the acquisition of the Premises on such terms as are consistent with the contents of this report; and

(ii) that the acquisition is compliant with the Council’s budget processes, and Capital Approval processes.

The acquisition of the long leasehold interest in 31/35 Arundel Gate, Sheffield will enable the Council, as part of the Knowledge Gateway project, to demolish the Premises and replace them with high quality public realm which will open up/enhance the connectivity between Fitzalan Square and Arundel Gate, Norfolk Street and the wider city centre.

For the above reasons it is proposed that the Cabinet Member adopts the recommendations set out in the report.

Do nothing is an option that has been considered but discounted. If the Council do not acquire the Premises then the opportunity to improve the public realm on Esperanto Place and to open up/enhance the connectivity between Fitzalan Square and Arundel Gate/the wider city centre may be lost.