Decision details

                  Approval was sought for the refusal of landlord’s consent to the assignment of the headlease of Queens Square Shopping Centre, West Bromwich, to Future High Street Living Limited.

                  The Chair of the Budget and Corporate Scrutiny Management Board asked if further detail on the pre-planning application discussions that had taken place between the Council and the party concerned could be provided and was the proposed demolition for the entire site.

                  In response, the Cabinet Member for Finance and Resources explained that the Council received a pre-application submission in January 2022, the Council had facilitated 2 rounds of pre app meetings with the applicant and a further focus meeting was held with the applicant and Regeneration Manager, Regeneration & Growth Director and the Leader of the Council on 7 June 2022.

                  The application currently concentrated on the Queen Square leased area, and a parcel of land (former M&S building), adjoining existing retail/residential block fronting Princes Parade leading towards Bull St and the Council’s former Multi-Storey Car Park site (now demolished). The current proposal comprised 312 units, a mix of apartments and housing, plus re configured commercial space.

                  Reasons for recommendations

The poor financial standing of the proposed assignee and unavailability of suitable guarantors.

Alternative options considered

Several alternative options were considered, but the recommendation was considered the most appropriate decision.

Agreed that the Cabinet approve the refusal of landlord’s consent to the assignment of the headlease of Queens Square Shopping Centre, West Bromwich, to Future High Street Living Limited.