Issue - meetings

To update the Scrutiny Commission on the performance of the Crescent development.

Members received an update on the performance of the Crescent retail development, with particular focus on block C. It was noted that, in 2015, Hinckley was listed in the top 5% for retail footprint in the UK and was the eleventh largest retail footprint in the East Midlands.

In relation to block C, it was noted that there were two vacant units which had resulted in a lower contribution to balances, but this had been offset in the general fund by other reductions in expenditure.

Members will be provided with a verbal update on the Crescent development.

The Scrutiny Commission received a verbal update on the Crescent development, being informed that the first phases of the project were nearing completion with Sainsbury’s due to open on 4 November 2015. It was noted that the cinema was due to open early December and the majority of the other units in block C (the block for which the Council was responsible) were either let or in advanced stages of negotiation and would start fitting out in early 2016. In relation to the other units which were not within the control of the Council, it was reported that these were almost 70% let with the remainder again in advanced negotiations.

Members asked for a more detailed report in early 2016 with a financial update and it was agreed that, where possible, any reports for decision by Council would be brought to the Scrutiny Commission first if timings allowed.

RESOLVED – progress on the Crescent Development be noted.