Decision - Portslade Town Hall Site, Victoria Road

(1)         That Cabinet approves and authorises:

(a)       Appointment of an agent to undertake the open marketing of the site adjacent to Portslade Town Hall.

(b)       Disposal of the site on a long leasehold basis of 125 years at a premium and no   rental payment.

(c)       The use of the net proceeds to provide for reinvestment in Portslade Town Hall for community use and other corporate accommodation projects.

The disposal on a long lease would  produce a capital receipt and enable investment in Portslade Town Hall to be addressed at the earliest opportunity, avoid the need for the council to spend any further money on maintenance and provide a net capital receipt for part use on other corporate accommodation projects.

There will be ongoing savings on the running and maintenance costs for Victoria Road Housing office and Portslade Town Hall.

The redevelopment of the site would provide additional housing and/or new employment opportunities.

A refurbished Portslade Town Hall plus a neighbourhood hub for community services would offer some office accommodation together with a service contact point for local and community services. Portslade Town Hall could then be used and/or managed by the local community as a facility for the local residents.

The offices could not be let on a commercial basis without substantial investment. There would also be no capital receipt available to reinvest in Portslade Town Hall.

The offices could be sold as an investment to an investor or owner/ occupier. This would release a much reduced capital payment reflecting the condition of the building and would sterilise the rest of the site.

The offices and car park could be retained for council use but the site requires substantial investment. There would also be no capital receipt available to reinvest in Portslade Town Hall.