Bath Cricket Club Acquire Land to Develop Student Flats
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Bath Cricket Club is buying public land at less than "best consideration" so it can build 136 student flats on the site.
The club is acquiring the North Parade Road embankment for £150,000 and will pay Bath and North East Somerset Council a nominal rent so it can access the development.
A planning application for the site was approved early last year and includes a student block, indoor cricket school, and a new teaching and learning space.
Council papers say: "In order to unlock this investment the Bath Cricket Club requires the land to enable the development and subsequent investment to proceed."
"A community asset transfer will enable the club to provide the community benefits, whilst the council will be able to impose a rent for a term of 30 years should the benefits not be provided. This will be monitored by the council."
"The Bath Cricket Club will also pay a premium for the lease."
"A lease of the land to the Bath Cricket Club will enable a significant amount of funding to be released to the club, producing improved sporting facilities for current and future members, levering in external funding and delivering sufficient community benefits."
The club will be contractually obliged to provide community benefits and provide evidence of the activities being delivered. The community benefits are estimated to be worth £2 million, whilst the proposed lease will save the council £900 a year.
The decision to transfer the land at "less than best consideration" was made by councilor Richard Samuel, with no other viable options able to provide the community benefits on offer.
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Head of Research at StuRents
Richard leads the StuRents research team, providing proprietary, platform-driven insights to help stakeholders make better-informed decisions about the market.
