The Council has decided to approve the next phase of the St George's development and award a contract to Capital and Centric (New Moon) Limited.

URL: https://wolverhampton.moderngov.co.uk/ieDecisionDetails.aspx?ID=9806

Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose:

Content: 1.     That the Heads of Terms (HoTs) to support delivery of the next phase of the St George’s development be approved.   2.     That the award of contract for St George’s Pre-Development Services Agreement (PDSA) be awarded to Capital and Centric (New Moon) Limited of 1st Floor, Neptune Mill, 64 Chapeltown Street, Manchester, M1 2WQ.   3.     That a virement £xxx be approved from the Corporate Provision and Contingency for Future Programmes to create a new capital project for the Council’s contribution £xxx of accelerated funding to progress to the next design / planning stage and support bringing forward scheme delivery.   4.     That the establishment of a supplementary budget £xxx within 2025-2026 to support site holding costs, fully funded from the income from the car park be approved.   5.     That authority be delegated to the Cabinet Member for City Development, Jobs & Skills in consultation with the Director of City Development, Executive Director of Economy, Section 151 Officer and Chief Operating Officer to: i.       Approve the requirements of the Subsidy Control Act 2022 have been adhered to; ii.      Approve the call off the Development Agreement, and all necessary ancillary agreements as detailed in section 4 of the report; and iii.     Approve the inclusion of Bilston Street Island within the redline boundary of the site to explore activity that is aligned to Council Urban Sports (see Appendix 1 – Red Line Plan).   6.     That it be noted, the Sainsbury’s lease expired on 24 March 2025, and the site had returned to Council ownership and responsibility, including the management of the lease of the adjoining car park.   7.     That it be noted, the HoTs set out the legal structure under which the Council would receive reimbursement for its accelerated funding £xxx, in addition to provisions for wider financial benefits inclusive of capital receipt and overage provisions, as detailed in Financial Implications section of the report.   8.     That it be noted, any development area that is currently used as parking for vehicles, the Council would need to follow the statutory procedure to appropriate such land with the necessary consultation pursuant to Section 122 of the Local Government Act 1972. This states that the Council may appropriate for any purpose for which the Council are authorised by this or any other enactment to acquire land by agreement any land which belongs to the Council and is no longer required for the purpose for which it is held immediately before the appropriation.   9.     That the financial risks and associated mitigation measures detailed in Financial Implications section of the report be noted.   10.  That it be noted, Capital & Centric (‘C&C’) are to lead on the dilapidations claim on behalf of the Council.   11.  That it be noted, the projected costs associated with delivering the project, including the revenue cost of borrowing, are fully funded from existing budgets and revenue income.

Date of Decision: July 23, 2025