Decision details

To grant a purchase option to PSP Southampton Limited on land at Drivers Wharf area, Northam.

(i)  To approve entering into an option agreement with the PSP Southampton LLP (the LLP) in relation to the Council’s land at Drivers Wharf and Princess Street, on the terms detailed below and the approximate extent of which is shown outlined in red on the plan at Appendix A. 

The purpose of entering into the option with the LLP is to facilitate property related projects for the Council, making use of private sector funding, resources and skills in addition to those available through the Council and paid for by the LLP.

The property could be marketed by private treaty or the Council could consider site assembly if funds and resources were available.  This is considered to be a less certain way of achieving best consideration and redevelopment of this property.