Update on Baileys Square Tenants
Verbal update form Mohammed Mahroof, Property and Estates Manager
Minutes:
The Board received a verbal update from the Property and Estates Manager on the status of the business units in Baileys Square. This included an update on the progress made letting out each of the units. The update also included an overview of the types of business showing interest in the units, an explanation of the challenges that would need to be overcome and a summary of the feedback from potential tenants.
The Board discussed the update. Some Members enquired as to the build status of the units. Members heard that most were at shell level so could be fitted out quickly. Members were also updated on the progress of installing the relevant infrastructure and services on site. Some Members suggested that regular communications with prospective tenants, regarding the project disruptions, would be sensible and should be led by the Council rather than the letting agent, FHP.
RESOLVED –
That the update was noted.
Update on Baileys Square Tenants
Verbal update form Mohammed Mahroof, Property and Estates Manager
Minutes:
The Board received a verbal update from the Property and Estates Manager on the status of the incubation units in Baileys Square. This included an update on the progress made letting out each of the units. The update also included an overview of the types of business showing interest in the units, an explanation of the challenges that would need to be overcome and a summary of the feedback from potential tenants.
Board considered the update. Members heard that it was unlikely that 100% of the units would be taken by the food and beverage industry. It was shared that there was significant interest from business in the health and wellbeing industry, and it was suggested that evidence indicated that this was a good mix.
Some Members queried whether there had been much interest in the utilisation of the square itself. It was shared that this was a key point for potential tenants alongside what will become of the buildings surrounding the site. Members heard that there was demand for family friendly events in the square, and the potential of using rent to fund events was discussed. The importance of sticking to the vision of making Baileys Square a destination was highlighted.
RESOLVED –
That the update be noted.