Decision details

Cabinet resolved to:

I.              agree to support this transformative project to restore and modernise the Guildhall, Corn Exchange, Market Square and Public Realm in the historic heart of Cambridge.

II.             agree to Option 4 to take it forward - that a recommendation is made to Full Council for a capital budget of up to £4.4m to be allocated to fund the technical design development, detailed development programme and to finalise the total direct and indirect costs of the project.

III.           agree to develop technical designs with traders and stakeholders

IV.          delegate authority to the Assistant Director for Development to submit the designs as put forward for the Guildhall, Corn Exchange, Market Square and associated public realm for Planning Consideration;

V.            delegate authority to the Assistant Director for Development in consultation with the Leader and CEO to approve non-material amendments and/or s73 amendments to the designs as put forward;

VI.          delegate authority to the Director of Economy and Place in consultation with the Chief Finance Officer regarding the disposal of Mandela House.

Cabinet resolved to note:

I.              the Capital Budget is to be allocated from the existing earmarked Civic Quarter Development reserve

II.             the project is affordable at the current estimated project cost which could be up to £92.3m

III.           a report will be issued to Cabinet and then to Full Council in September 2026 regarding the final proposals and costs

IV.          feedback to Cabinet from the Performance, Assets and Strategy Overview and Scrutiny Committee meeting of 9 September 2025.