Decision details

The Director, Corporate Estates provided Members with an overview of his report which contained exempt information.

Following consideration of the report, it was RESOLVED:

1.    To acquire the Freehold interest of the premises at High Street, Pontypridd, known as the former Bingo Hall and Angharad’s Night Club, at an agreed price plus VAT, fees and Land Transaction Tax;

2.    To note that Welsh Government (WG) has offered funding support of £1.540M of Targeted Regeneration Investment (TRI) funding towards the total costs.  The detailed terms and conditions of this funding are currently being finalised with WG;

3.    To accept the offer of £1.540M of TRI funding from WG towards the acquisition, related fees and demolition costs of the premises at High Street, Pontypridd, known as the former Bingo Hall and Angharad’s Night Club; and

4.    To receive a further joint report from the Director of Corporate Estates and the Director of Prosperity and Development on the demolition and redevelopment of the site.