The Committee will receive an update report from Kathy McArdle (Service Director Regeneration and Culture).
Minutes:
Kathy McArdle (Service Director Regeneration and Culture) provided an update on the progress made with the Glassworks Development and the wider Town Centre.
The Committee noted that following key highlights:
· The Glassworks centre was currently 91% let, with a further 6% in advanced/legal discussions. There had also been interest in the remaining units.
· The Glassworks Board had recently approved four lettings and an extension to the Barnsley CCG for three further units.
· Businesses within the Glassworks were trading well and exceeding targets.
· Fridays had opened in the Glassworks today and Urban Burger would be opening shortly on Cheapside. Dolly’s Desserts would also be carrying out a soft launch of its second larger outlet on 5 January 2023.
· Updates were provided in respect of a change to the centre’s management agent. An inception meeting would be held shortly to refresh the centre’s leasing strategy.
· A 25-year Life Cycle Asset Management Plan for the Glassworks would be developed.
· In relation to carbon emissions for the Glassworks, data was now available and would be analysed.
· In relation to the construction of the new Market Gate Bridge, the Committee were advised that the current timeframe for completion was by late summer 2023. Efforts would be made to minimise any disruption during the football season.
Sharon Bradley, Internal Audit Manager, informed the Committee that as the Glassworks centre moved from the phase two construction stage to the operational stage three, she had supported the Glassworks Board in providing independent advice and support to assist in reviewing the Board’s governance arrangements.
In the ensuing discussion, the Committee noted that Cineworld continued to trade well, despite the Chapter 11 proceedings occurring in the US.
The Committee suggested that the Service Director Regeneration and Culture may wish to engage with Preston City Council to obtain any key learning points in relation to its city centre redevelopment scheme.
It was agreed that an update would be provided at the January 2023 Audit and Governance Committee in relation to the Alhambra Centre and voids in the Town Centre.
RESOLVED
i) That the report be noted, and Kathy McArdle (Service Director Regeneration and Culture) be thanked for attending the meeting and for answering Members questions.
ii) That the Committee receives an update at its January 2023 meeting in relation to the Alhambra Centre and voids in the Town Centre.