News: Funding deal needed to progress Templeborough regeneration
A multimillion pound regeneration scheme in Rotherham is moving ahead around Magna.
The charity operating the site is set to receive compensation, and retain ownership of the completed developments.
Rotherham Council has been developing plans for the Templeborough area, with around £6.5m in governmnet funding from the Town Deal set to be used to create a new "heart" of the business zone by "bringing forward underutilised sites and creating new opportunities for businesses within accessible and pleasant public realm."
The Templeborough Business Zone project supports the creation of new managed workspace units, improved public realm and food and beverage facilities on the Magna site.
One of those underutilised sites is the former "Cent" Building at Sheffield Road and a legal deal is being agreed to compensate Magna and enable the new schemes to go ahead.
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A council report explains: "The project requires the use of Magna’s land, including buildings which are currently occupied. The Council and Magna have negotiated early surrender of a lease to facilitate vacation of the former Cent Building at Sheffield Road. Additionally a fixed sum will be passed to Magna to compensate for loss of revenue income.
"The Cent building is currently owned by Magna once the project is underway the building will be demolished and new managed workspace and public realm put in its place. Throughout the project Magna will retain ownership of the building and land once demolished and will continue to own and operate the new property in perpetuity."
With the decision made at officer level, costs have not been disclosed but the council says that they are included within the project budget as funded by Town Deal.
Redesign of the project to retain the building, previously used as an IT training centre and by procurement firm, In-Tend Ltd, was considered and rejected in the early feasibility work.
Some design changes were made to the project as The Source Skills Academy is moving its offices to Magna.
At the other side of the site, Network Rail has been appointed to lead on delivery for the proposed tram train stop and they have a principal contractor in place for detailed design. A planning application is expected soon.
The Templeborough Business Zone project, and tram train stop, are due for completion in late 2024.
Images: Google Maps
The charity operating the site is set to receive compensation, and retain ownership of the completed developments.
Rotherham Council has been developing plans for the Templeborough area, with around £6.5m in governmnet funding from the Town Deal set to be used to create a new "heart" of the business zone by "bringing forward underutilised sites and creating new opportunities for businesses within accessible and pleasant public realm."
The Templeborough Business Zone project supports the creation of new managed workspace units, improved public realm and food and beverage facilities on the Magna site.
One of those underutilised sites is the former "Cent" Building at Sheffield Road and a legal deal is being agreed to compensate Magna and enable the new schemes to go ahead.
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A council report explains: "The project requires the use of Magna’s land, including buildings which are currently occupied. The Council and Magna have negotiated early surrender of a lease to facilitate vacation of the former Cent Building at Sheffield Road. Additionally a fixed sum will be passed to Magna to compensate for loss of revenue income.
"The Cent building is currently owned by Magna once the project is underway the building will be demolished and new managed workspace and public realm put in its place. Throughout the project Magna will retain ownership of the building and land once demolished and will continue to own and operate the new property in perpetuity."
With the decision made at officer level, costs have not been disclosed but the council says that they are included within the project budget as funded by Town Deal.
Redesign of the project to retain the building, previously used as an IT training centre and by procurement firm, In-Tend Ltd, was considered and rejected in the early feasibility work.
Some design changes were made to the project as The Source Skills Academy is moving its offices to Magna.
At the other side of the site, Network Rail has been appointed to lead on delivery for the proposed tram train stop and they have a principal contractor in place for detailed design. A planning application is expected soon.
The Templeborough Business Zone project, and tram train stop, are due for completion in late 2024.
Images: Google Maps
1 comments:
If Tory councillors had had their way over the years, there would be no Magna to develop anything around!
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