Council chiefs want to sign up a private sector partner to develop a major city centre regeneration site.

Leaders at Stoke-on-Trent City Council say the authority cannot afford to take the Etruscan Square scheme forward on its own and so they are now looking to team up with a developer.

The site, which includes land once occupied by Hanley Bus Station and Hanley Shopping Centre, already has planning permission for up to 292 homes along with ground floor food outlets. But a wider masterplan, including an indoor arena and hotel, was scrapped by the council after Labour took power last year, with revised proposals now being drawn up.

While Etruscan Square has been allocated £20 million of Levelling Up cash by the government, the council says the overall cost of this scheme and other regeneration projects could rise to over £100 million. The council is therefore looking to sign a development agreement, which would see the site sold to a private firm to build the agreed scheme as long as certain conditions are met.

The development could eventually include a 2,000 seat events venue, car park and other amenities (Nub News).

According to a council report, this approach would save taxpayers the development costs while allowing the authority to retain some control over the scheme.

Along with the new housing, Etruscan Square could eventually include a 2,000-seat events venue, a multi-storey car park and other amenities. And the deal with the developer could be expanded to include other nearby regeneration sites, such as Bucknall New Road, North Shelton and Pyenest Street.

The council previously had an agreement with developer Realis Estates for the Etruscan Square site, which includes land once occupied by Hanley Bus Station and Hanley Shopping Centre. But this deal expired without the proposed retail and leisure complex ever being built.

The report to cabinet says that the council will procure a developer 'with experience of delivering regeneration on urban brownfield development sites'.

The report states: "A development agreement has been proposed as the most suitable mechanism to achieve the city council's objectives. There are several forms of development agreement that could be entered into between the city council and a private developer. Fundamentally, all forms would involve a legal contract between the city council and the successful developer which stipulates conditions for each party that, when achieved, trigger the transfer of the freehold (or long lease) of the site to the developer to build the agreed scheme."

The council has to spend the £20 million of Levelling Up cash by next March, or by 2025/26 on an 'exceptional basis', and the report says this means the developer needs to be procured 'as soon as possible'. The amount paid to the council for the land would be calculated by comparing the future value of the completed development against the total cost to the developer.

Conservative opposition leader Dan Jellyman, who was cabinet member for regeneration under the previous Tory administration, believes 'the devil will be in the detail' in relation to the development agreement, and says the council has already wasted too much time.

He said: "It was always the intention to find a private sector developer for parts of the Etruscan Square development. But the key thing is ensuring that we don't get a situation where the council has lost control over the land, which a company will just sit on for years. So it's important that the council has strong negotiators to get the best deal. Unfortunately, Labour have already shown they aren't strong negotiators, following their unwillingness to take on the unions over terms and conditions.

"Labour inherited a site with full planning permission for new homes. They could have cracked on with that last year, but instead they chose to scrap it all and go back to the drawing board."

Cabinet members will be asked to approve the launch of a tender to find a development partner when they meet on Tuesday. They will also delegate authority for the appointment of the successful bidder.

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