Contact your Parish Council
MAIDSTONE BOROUGH COUNCIL
RECORD OF DECISION OF THE Cabinet
|
Decision Made: |
12 September 2012 |
King St Multi Storey Car Park
Issue for Decision
To consider the options for King Street Multi Storey Car Park
Decision Made
1. That the demolition of the building be agreed.
2. That the submission of a planning application for, and construction of, a surface level car park be agreed.
3. That development opportunities continue to be sought for the longer term use of the site.
Reasons for Decision
An appraisal of the site was carried out two years ago by GL Hearn, who examined a range of development options. These included retail and office, retail and residential, residential, retail and hotel – all with and without parking. Redevelopment costs for such schemes range from £8.5m to £17m. However, with further decline in the market over the last two years in terms of rental levels and level of demand, and the improbable prospect of any improvement over the next five years, the site is unlikely to attract any interest for the time being.
Conclusion
In terms of value for money, demolition of the building and construction of a surface level car park is the best option. It also provides the opportunity for further redevelopment if and when the market improves. It was therefore recommended to demolish and construct a surface level car park, whilst continuing to seek development opportunities for the longer term use of the site.
A sketch of the recommended proposal was attached as Appendix A to the report of the Assistant Director of Environment and Regulatory Services.
Alternatives considered and why rejected
The alternative actions have been examined in detail above.
Background Papers
None
Should you be concerned about this decision and wish to call it in, please submit a call in form signed by any two Non-Executive Members to the Head of Change and Scrutiny by: 21 September 2012 |