Agenda item

To receive a summary of and conclusions from the economic and financial assessment completed by external consultants on development options for the site and consider an initial package of works to be commenced during the remainder of 2023/24.

The Regeneration and Place Manager introduced a report which provided a summary of, and conclusions from, the economic and financial assessment completed by external consultants on development options for the site. The report also asked Members to consider an initial package of works to be commenced during the remainder of 2023/24.

The Updated Business Case for the proposed conversion of the former Market Hall, enabling provision of a new indoor leisure attraction was approved at the meeting of Community & Environment Committee held on 1 March 2022. The scheme received detailed planning consent on 8 February 2022. Project development had been overseen by the Project Management Group (PMG) with input from the Council’s Legal and Finance teams.

Following this, several Invitation To Tender (ITT) exercises had been completed, unfortunately no acceptable/affordable tender was received. These therefore concluded without a contractor appointment, illustrating the significant challenge of delivering the proposed scheme within the volatile construction market, impacted by high cost inflation. As a result of this, in July Members were asked to consider a list of development options which were detailed within the report. Further assessment work was then completed by Thomas Lister and AMION consulting, the updated assessment was included as an addendum to the updated business case, this was presented to Members as an appendix to Part B of this report.

It was moved by Councillor Steve Flitter and seconded by Councillor Martin Burfoot that the recommendations as set out within the report be accepted. During debate, an amendment was proposed by Councillor Peter O’Brien and seconded by Councillor Roger Shelley to include the additional point as shown below:

9.    That the Bakewell Road project be re-scoped as the “Matlock Western Gateway” initiative, in order to generate a wider range of community, environmental, commercial and residential opportunities to support the priorities in the Council Plan and that an all-Party Working Group be established to steer the re-scoping exercise, supported by appropriate external partners.

The proposed amendment was debated and put to the vote as follows:

08 For

14 Against

03 Abstentions

The Chair declared the amendment LOST.

It was moved that the substantive motion be put to the vote by Councillor Geoff Bond, this was seconded by Councillor Martin Burfoot.

I was then moved by Councillor Steve Flitter that a recorded vote taken, this was seconded by Councillor Sue Burfoot. The substantive motion, as moved and seconded, was then put to a recorded vote as follows:

For: 24, Councillors: Anthony Bates, John Bointon, Geoff Bond, Kelda Boothroyd, Matt Buckler, Martin Burfoot, Sue Burfoot, David Burton, Neil Buttle, David Chapman, Peter Dobbs, Nigel Edwards-Walker, Steve Flitter, Dawn Greatorex, Susan Hobson, David Hughes, Laura Mellstrom, Dermot Murphy, Andy Nash, Lucy Peacock, Simon Ripton, Roger Shelley, Peter Slack, Nick Wilton.

Against: 1, Councillor: Gareth Gee

Abstention: 1, Councillor: Peter O’Brien

It was therefore RESOLVED

1.    That Members note the continuing challenges in delivering the project within the current economic climate.

2.    That Members note the outcome of the updated economic and financial assessment of the project / development options agreed by Council (updating the previous business case) and completed by external consultants, and wider cost benefit / financial analysis prepared for the scheme.

3.    That the long-standing commitment of the proposed cinema operator to working with the Council to this stage to pursue a scheme for Matlock be acknowledged and minuted.

4.    That previous input to the project and close working with Matlock Community Vision Steering Group be acknowledged and minuted.

5.    That, taking account of the updated economic and financial assessment of the project and current economic climate, the proposed conversion of the former Market Hall comprising a two-screen cinema and food and beverage unit be deferred with a review of the position to be undertaken in approx. 18 months’ time should economic conditions improve.

6.    That an initial Phase 1 works package to the existing bus station as proposed in the report be progressed in early 2024 comprising: external works to the building; internal works to the bus station area to improve waiting facilities for bus passengers and taxi users and public realm works in the immediate vicinity.

7.    That the existing District Council Capital Programme allocation to the wider development scheme be retained subject to review of the scheme as per recommendation 5.

8.    That proposals for re-allocating UK Shared Prosperity Fund and Rural England Prosperity Fund capital funding allocated to the project in 2024/25 be developed for consideration by the Derbyshire Dales UKSPF Partnership Board, both for the Bakewell Road Site and alternative schemes, in accordance with the criteria set out in Section 6, and a further report be brought back to Members at the earliest opportunity.

The Chair declared the motion CARRIED.