Why it matters: Councillors have approved Aspen Build's proposals to turn the former Gym & Trim Health Club building on Lower Orwell Street into flats, requiring only £2,334 to compensate for impact on a special protection area instead of the originally agreed £250,000 for education, libraries and open spaces.
The details: The decision follows an independent consultant's review, which found that the developer's financial viability assessment indicated the scheme could be "even worse" than initially suggested. The assessment concluded that Aspen Build would profit around 10 per cent of the development's total value, which is below the Government's suitability guidance of between 15 and 20 per cent.
The council hired the independent consultant after the applicant returned, requesting that the contribution be waived following its financial viability assessment.
What they're saying: Cllr Carole Jones said the consultant's conclusion showed the plans were truly unviable and stressed the need to bring the building back into use.
She said: "It would be very good to get this site developed after a very long time, and it would be good to have people living here and this site put to good use."
Cllr Jones proposed to approve the plans, waiving the contribution, requiring only £2,334 to compensate for their impact on a special protection area.
The bigger picture: This is expected to bring Aspen Build's profit margin to around 16 per cent. The site has been vacant for several years and, although it received planning permission for student accommodation in 2008, the plans were never completed.
What's next: The decision is subject to a separate viability assessment being submitted to ensure no mitigation contributions are required.
