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17 May 2019, 14:15 | Updated: 17 May 2019, 14:20
Cambridgeshire County Council says after considering bids from more than 30 organisations, the authority has agreed the CB1 (central Cambridge) regeneration firm Brookgate as their preferred bidder.
Full Council on 14th May discussed the results of a three stage selection process that included a Member working group.
Cambridgeshire County Council says:
"The merits of the four final shortlisted bids were debated which included their proposals on how the Castle Mound and the Civil War Earthworks, the site’s major heritage assets, and access to them, would be protected or enhanced.
Brookgate was agreed as the council’s preferred bidder to lease the site and further negotiations will now begin between the developer and the Council to agree the full terms, including the length of the lease - expected to be for a term between 30 and 40 years."
Brookgate has proposed, subject to planning permission, a prestige hotel and office accommodation on the site.
The lease arrangement means the site remains in public ownership, confirming Cambridgeshire County Council’s commitment to enshrine continued existing public access to the Castle Mound and Civil War Earthworks in the final agreement.
Cllr Steve Count, leader of Cambridgeshire County Council said:
“We are very aware of our responsibilities to safeguard and enhance public access to the heritage assets on the site – which has been an important part of the selection process.
But we are also mindful of the need to make the very best use of our assets in order that we can re-invest resources in the essential frontline services which the people of Cambridgeshire rely upon.”
This potential lease arrangement looks likely to exceed figures outlined in our business case, and see the value of our asset enhanced, but still retain ownership of the site for future generations – which strengthens our original decision to vacate the site.”