Decision details

This paper sought approval of a new Future High Street ‘Retail Repurposing Scheme’. It was being brought forward to ensure the Council maximised the full benefit of the allocated FHS monies. This project would enable a current high street tenant to downsize from their multi-level store in Wycombe town centre, by newly fitting out the ground floor. The Council owned the freehold of the building. The tenant would pay to surrender their long leasehold and would enter into a new occupational lease. This would release the first and part second floors for alternative use. The large floorplates were suited to storage use, with one third of the first floor and half of the part second floor capable of being converted to offices. The proposal was to relocate Buckinghamshire Archives from Aylesbury into part of the first floor and, possibly, the relocation of the Discover Bucks Museum’s collections storage from Halton. The potential offices being either for operational use or developed speculatively for letting.

RESOLVED that Cabinet:-

1 agree to implement the High Wycombe Future High Street Fund Retail Repurposing Scheme, as set out in the Confidential Annex, involving entering into a ‘surrender & renewal’ Agreement with the tenant, subject to proven structural integrity of the building and conditional upon planning consent for the proposed uses/alterations, enabling the downsizing of the tenant into the ground floor, releasing space to be converted to accommodate the relocation of the Buckinghamshire Archives, and potentially, Discover Bucks Museum’s collections storage currently located at Halton, and create office space for existing Council services.

2. agree to supplementary budget changes set out in the Confidential Annex of the report, increasing the Capital Budget for the Future High Street Scheme from the current budget of £6m to £11.26m, funded from Future High Street Fund Grant, Council match funding, the Capital Receipt from the Tenant Surrender Premium, and new Capital Receipts.

3. agree to release £8.27m of this amended Capital budget (which excludes the new Capital Receipts), to proceed with the Tenant lease surrender and the creation of the shell unit, to ensure we meet DLUHC’s deadlines for spending the grant funding.

4. delegate to the Service Director of Property & Assets and the Service Director of Culture, Sport & Leisure, in agreement with the Leader and their respective Cabinet Members and the Section 151 Officer, authority to conclude detailed terms for the Agreement with the tenant; to negotiate detailed terms with Discover Bucks Museum linked to their museum storage (if it is agreed that this will be part of the scheme); to appoint a full project planning and design team and solicitors; submit a planning application and enter into appropriate contracts for the proposed conversion works and relocations. This will be up to the value of released budget as set out in the Confidential Annex of the report.