Issue - meetings

The Executive Member for Regeneration submitted a report for Executive’s consideration.

The report sought approval from Executive to undertake feasibility works to support the expansion of the Digital Sector in Boho/Middlehaven through the development of Boho 11, which would see circa 35,000 of high-quality office development.

As set out in previous reports to Executive, the Digital Strategy for Middlesbrough built on the historical partnership with Digital City and Teesside University and aimed to set out a clear, long-term strategy designed to support further development of a vibrant cluster in the heart of Middlesbrough.

In consultation with the sector, the Council developed a strategic approach to enabling the long-term accommodation requirements for the rapidly expanding digital sector in Middlesbrough through the development of new build accommodation, conversion of existing properties and exploration of models to support long-term ownership of private properties.  This was geared at providing an environment to support business start-up and allowing existing companies within the sector to grow and mature within the cluster creating a critical mass that was also appealing to companies outside of Middlesbrough, attracting inward investment.

OPTIONS

Option 1 - Do nothing. This option would not support the Council’s strategic priorities and would see the not support the further expansion of the Digital Sector.  This could see expanding companies relocate outside of Middlesbrough.  The development is unlikely to be viable to the Private Sector.

Preferred Option – Feasibility, Development Appraisal and Business case for the development of Boho 11. This option would allow the Council to ascertain the viability in the further expansion of the Digital Sector through the development of Boho 11.

ORDERED

That Executive:

1.     Approve the commencement of full feasibility works including an indicative building design and development appraisal with a view to preparing a business case to progress the development of Boho 11; and

2.     Following the feasibility works a further report be presented to Executive highlighting the viability of any development.

REASONS

The development of Boho 11 would support the further development of the Digital and Creative sector in Middlesbrough providing a critical mass of accommodation that would allow existing companies to expand and attract new companies and employment opportunities to Middlesbrough.

Undertaking the feasibility works, development appraisal and business case would determine if the development would be feasible and highlight any potential financial returns to the Council.  It would also assist in determining the further regeneration benefits of the development such as the creation/supporting employment through the construction and supply chain and the wider town centre economy.