Demolition of St Nicholas House and remainder of the site
9.1 What was the cost of demolishing St Nicholas House? Who paid for it? What were the conditions for payment, in particular, was this linked to planning approval?
The Council decision to demolish the existing buildings and redevelop the site was made in 6 October 2011. At this time Council agreed to put the site up for sale, inviting bids from potential investor/developers. When offers were assessed for the site the demolition element was equalized between all bidding parties. The Council paid for the full demolition. In addition, the demolition was not linked to any planning application (other than the demolition consent).
The full demolition cost of the building was £3.692million, further details can be found on page 4 of the Capital Monitoring report.
9.2 How much of the purchase price paid by Muse for the land (the upfront cost) does ACC have left after demolition costs and fees etc? If so, what value?
The full purchase price is £10 million. Please see 9.1 and link for further information in relation to the demolition element.