Issue - meetings

This report provides an update on progress with the formal procurement competition designed to bring the Barbican Auditorium back into public use and seeks approval to arrange a lease with the preferred bidder, SMG Europe (Holdings) Limited. 

RESOLVED: (i)         That the selection of SMG Europe (Holdings) Limited, or an appropriate nominated subsidiary, as the preferred bidder, be acknowledged.

                        (ii)        That authority be delegated to the Director of Adults, Children and Education, in consultation with the Head of Legal Services, to complete a conditional development agreement and lease (‘Award of Contract’).

                        (iii)       That any necessary works be undertaken to the Kent Street pedestrian refuge to ensure that show vehicles can service the Barbican.

REASON:      To enable the Barbican Auditorium to be re-opened for public use.

[See also under Part B Minutes]

Members considered a report which provided an update on progress with the formal procurement competition designed to bring the Barbican Auditorium back into public use.

Details of the procurement process were set out in paragraphs 9 to 13 of the report.  Of the four bidders shortlisted, two had subsequently withdrawn, and formal tenders had been submitted by:

·        Bidder A - a property developer with a proposal for a comprehensive redevelopment of the area, including the Kent Street site

·        Bidder B - SMG Europe (Holdings) Ltd., an entertainments operator with a plan to refurbish and lease the Barbican and provide a programme of entertainments and conferencing.

Following an evaluation exercise carried out in accordance with the agreed criteria, SMG had been identified as the preferred bidder.  Details of the funding and revenue implications of the bid were set out in exempt Annex 4 of the report.  Approval was now sought to proceed to an award of the contract and to carry out works to resolve an associated issue raised by the Highways section regarding the pedestrian refuge on Kent Street.

Officers at the meeting provided an update on the potential economic impact of the preferred bidder’s proposal, which early calculations estimated could benefit the local economy by between £9m and £12m.

Having noted the comments of the Labour Group Spokespersons on this item, it was

RESOLVED: (i)         That the selection of SMG Europe (Holdings) Limited, or an appropriate nominated subsidiary, as the preferred bidder, be acknowledged.

                        (ii)        That authority be delegated to the Director of Adults, Children and Education, in consultation with the Head of Legal Services, to complete a conditional development agreement and lease (‘Award of Contract’).¹

                        (iii)       That any necessary works be undertaken to the Kent Street pedestrian refuge to ensure that show vehicles can service the Barbican. ²

REASON:      To enable the Barbican Auditorium to be re-opened for public use.