A report about the future development of Temple Island is set to go before cabinet next week for the first time since the mayor officially scrapped plans for an arena at the site last year.
Bristol Mayor Marvin Rees confirmed land at Temple Island would not be used for an arena during a highly anticipated meeting back in September, despite the council sinking £12million in to clearing and preparing it for the concert venue.
Instead he said the council would push forward with plans for a ‘mixed use’ development on the site which may include a conference centre, housing, offices and shops after an auditors’ report concluded it would be better value for money for the city.
At the time of the decision it was anticipated that the chosen developers for the site would eventually be announced as asset managers Legal & General.
This was due to the fact that just one month prior to the mayor’s decision the firm unveiled its “vision” for Temple Island - which included a conference centre, hotel and housing - which fitted in perfectly to what the value for money report had said was the best use for Temple Island.
Designed by Zaha-Hadid Architects (ZHA), Legal & General’s proposals included a state of the art conference centre, a 345-room hotel, 550 new homes -including 220 new affordable - and two major “Grade A” office buildings on the five acre site.
But since September there has been no more information from either L&G or Bristol City Council about the future of the site and what could eventually be built there.
Now cabinet papers ahead of next week’s meeting reveal that discussions have been taking place behind the scenes for months in order to bring a proposal forward for a mixed-use development at the site with the council’s “identified partner” L&G.
According to the report there is still some way to go before any building work begins, but discussions between the two organisations have confirmed L&G’s “ambition to deliver a quality mixed-use scheme on Temple Island”.
The council has said there has already been some interest from prospective hotel and conference facility operators regarding the site and that discussions between the potential operators and L&G have been scheduled.
These discussions have been described as “crucial” in informing the overall scheme layout, as well as associated construction/enabling works requirements and whether any funding would be required in order to support the provision of the conference facility.
At Tuesday’s (July 2) cabinet meeting members will be asked to give the okay for the authority to continue discussions with L&G so a legal agreement regarding the site can be reached.
Cabinet is also asked to approve funding of half-a-million pounds to progress development proposals for the site and to agree to enter into a Strategic Partnership with the asset management firm.
The aim of the partnership would be to support investment and development within the wider Temple Quarter area and the city.
In the report to cabinet it is described as “unique and bespoke to Bristol” and a mechanism for the council to “gain further benefits for the city and its citizens” by having a funder of the “scale and calibre of L&G”.
The partnership, which would run for five years, would be a non-legally binding agreement between the council and L&G in order to deliver an agreed set of objectives, such as delivering schemes which meet the council’s affordable housing policy.
Also up for discussion is a plan to dispose of the Temple Island site to L&G as part of a lease agreement with the council.
Under the terms of the proposed Agreement, “if L&G satisfy the conditions and complete construction of a first office building on the site to industry standards, the council will enter in to a 250 year sub-lease of that building together with a provision to pay rent to L&G for a term of 40 years”.
L&G is expected to deliver a second, speculative office building on Temple Island – once the first office building, which would be let to the council is 80 per cent let.
The firm has also stated its intention to deliver the initial phase of residential buildings on site with at least 40 per cent affordable housing.
