Decision details

The report of the Head of Regulation and Economic Development setting out the key factors in relation to the proposed purchase of the former Peboc site in Llangefni was presented for the Executive’s consideration. The report detailed the rationale for the proposed acquisition, the approach to acquisition and the cost and funding implications.

Councillor Gary Pritchard, Leader and Portfolio Member for Economic Development presented the report noting that the proposal is that the Council use capital funding provided by Anglesey Freeport to acquire the former Peboc site and carry out site clearance, preparation and access provision. The objective is that undertaking these pre-development works, combined with  Freeport Tax incentives, will serve to attract private sector investment.

The Head of Regulation and Economic Development reported that local, regional and national policy is consistent that there is a need to facilitate provision of high quality business space to foster growth, aid innovation and provide high quality jobs. Anglesey and Llangefni in particular, needs jobs and investment. Peboc is designated as a safeguarded employment site and has been recognised by Welsh Government as an Enterprise Zone. The Council’s policy is to bring brownfield land back into economic use; the redevelopment of Peboc is in line with policy and reduces the need for the Council to release greenfield land for development. Peboc is also part of the Central Anglesey Tax site which means it benefits from both seed capital funding and Freeport Tax incentives which improves the viability of the site to the private sector. There is a clear rationale for its acquisition to address site issues, leverage investment in an area in need, and meet an evidenced and growing need for business floorspace to complement significant upcoming economic development opportunities. The report outlines work undertaken to date to facilitate site development including planning consent, the strategy for acquiring the site, subject to Executive approval, and the considerations involved.

The Executive expressed support for the proposal, recognising it as a valuable opportunity to  bring a long disused site back into productive use to provide much needed employment in this part of Anglesey. It was noted that the proposal aligns with one of the Council’s primary strategic objectives to stimulate economic and community regeneration and support the economy and local businesses to grow and prosper.

The Director of Function (Resources)/Section 151 Officer confirmed the receipt of a report by the Council’s insurers and provided members with a summary of its main findings.

It was resolved –

• To approve the principle of the purchase of the former Peboc site using seed capital funding provided by Anglesey Freeport.
• To delegate the authority to the Chief Executive alongside the Section 151 Officer to execute the purchase of the Peboc site once negotiation has concluded. (The current owners have provisionally accepted an offer).
• To delegate the authority to the Chief Executive alongside the Section 151 Officer to negotiate and pay the compensation payments to existing users.