Pre-conditions

We understand pre-conditions that have to be met in order for the development to proceed include:

  • The acquisition by the CEC of the land required for the development which is not already owned by the CEC, either by negotiations with the property owners or by CPO.
  • The necessity to have a legally binding (not conditional) agreement with an occupier for the department store and with an operator for the cinema.
  • The developer must demonstrate that it has funding to build and let the development.
  • The developer must demonstrate that they are still satisfied that the development is viable. Any ‘notification of viability’ has to be accompanied by a current Development Appraisal. If the Council is not satisfied with the  Development Appraisal, an ‘Expert’ can be called in; and if the Expert considers the proposal is not viable, and the Council agrees, the agreement can be terminated. BUT  See also Viability Assessment.

Timescales

Viability assessment

Financial arrangements

Incentives

 

 

 

 

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