At a special meeting on Tuesday 30 July, Richmond upon Thames Council’s Cabinet decided to terminate negotiations with Dawnay Day Structured Developments on its scheme for the redevelopment of the Twickenham Riverside.
The Cabinet has requested a detailed report for its September 2002 meeting setting out potential options for the site.
The meeting was in response to a resolution made at the May 2002 Cabinet meeting, that the implications of continuing or withdrawing from the Dawnay Day scheme for developing the site should be explored.
The report set out three options which were:
- Continue negotiations
- Withdraw from negotiations (terminate)
- Suspend negotiations
After full deliberation, the Cabinet decided to terminate negotiations with Dawnay Day, for the following reasons:
- Concerns at the lack of progress after a significant period of negotiations with Dawnay Day and the likelihood that it will not be possible to reach agreement on acceptable contractual terms which fully deliver the Council’s requirements within a reasonable time period.
- A concern that the evidence points to a scheme with doubtful financial viability and that a number of future events could further impact on the viability of the scheme and/or the level of public benefits delivered.
Councillor Tony Arbour, Leader of the Council stated: “Having explored this matter in detail, I firmly believe that the Cabinet’s decision is in the best interests of the people of Richmond upon Thames. I look forward to receiving the September report and to selecting an option for redevelopment which will bring the troubled history of this site to an end. My administration will work to ensure that this site will be something that future generations can be proud of.”
Report courtesy of Twickenham online. Reproduced with permission.