DECISION-MAKERS have given the go-ahead for a central Barry site to be re-marketed after the multi-screen cinema preferred bid fell through.

Vale Council cabinet members agreed the 19-acre Innovation Quarter Southern (IQS) development site, at Barry Waterfront, should be put out to interested parties.

The report put before the committee on Monday, January 9, also proposed the IQ Hood Road Goods Shed site be marketed.

A £49,000 budget has been earmarked for the exercise and income generated from the land disposal would be shared between the council and Welsh Government.

The site features The Pumphouse; the Hang Fire Southern Kitchen, Academy Espresso Bar, and Snap Fitness gym.

Also located in the area is the West Quay Medical Centre, the Business Service Centre, Premier Inn hotel and Brewers Fayre Restaurant.

The site would be marketed and disposed of by way of a 999-year lease.

The mixed-use development opportunity could be used for food and drink facilities; business and professional services; or assembly and leisure.

As an enabler to the development, shops, residential and a live/work option could be considered, all subject to Welsh Government consent.

Cabinet members agreed JJL would be retained as marketing agents for the 1QS development site and that other consultants could be appointed to market and deliver the Hood Road Goods Shed project.

Vale Council deputy leader and cabinet member for regeneration and education, councillor Lis Burnett, said: “This is a key area in terms of the future regeneration and economic development of the town.

“We carried out marketing exercises and received expressions of interests.

“But we did not find a viable way forward.”

The report, considered by cabinet, said: “A comprehensive marketing exercise was completed during 2015 by JLL. Developers bid for the site and proposed a mix of commercial uses along with a cinema.

“Following negotiations and disappointingly a financially viable

land transaction was not forthcoming.”

The report added: “A formal expression of interest has been received from a developer to purchase the IQ Hood Road Goods Shed Site and facilitate a potentially exciting investment project that would transform the local historic property and its site.”