Decision details
Plot 3, Land East of Victoria Centre, Acton Lane, Park Royal - Land acquisition, Design & Build Proposals
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
To provide authority to purchase Plot 3, Land
East of Victoria Centre, Acton Lane, Park Royal (NW10) and enter
into a development agreement, or alternative contracting structure,
with the seller, for the provision of a 141 apartment supported
housing facility, subject to an independent valuation and cost
report confirming value for money, clean and marketable title,
satisfactory planning permission and subject to contract.
To provide delegated authority to the Strategic Director Resources,
in consultation with the Operational Director of Adult Social Care
and the Chief Finance Offer, to finalise the terms of the proposed
acquisition and enter into any associated agreements and contracts
with the seller, if the Council’s offer for the site is
successful.
To provide authority to apply to the Greater London Authority (GLA)
for grant funding to offset the purchase costs and achieve
affordable rents to maximise long-term sustainability.
Decision:
RESOLVED:
11.1 Cabinet approved the acquisition of a 141-apartment supported housing development on Plot 3, Land East of Victoria Centre, Acton Lane, Park Royal from Hollybrook Ltd for a package price as set out in Appendix 1 to the Cabinet report, subject to 1) an independent valuation, 2) independent cost report confirming value for money, 3) clean and marketable title, 4) satisfactory planning permission and 5) financial and legal due diligence.
11.2 Cabinet agreed that subject to acceptance of the Council’s offer for the site detailed in 2.1 above, to delegate authority to the Strategic Director Resources, in consultation with the Portfolio Lead Member, to finalise the terms of the proposed acquisition and enter any associated agreements and contracts.
11.3 Cabinet approved the submission of an application to the Greater London Authority (GLA) for grant funding to offset the purchase cost and achieve affordable rents to maximise long-term sustainability.
11.4 Cabinet approved a capital budget that depending on the final negotiated figure would be up to £31m including the various fees, charges, taxes and additional social care requirements noted in Appendix 1 to the Cabinet Report.
Wards Affected: Stonebridge;
Contact: Sarah Chaudhry, Head of Strategic Property Email: sarah.chaudhry@brent.gov.uk Tel: 020 8937 1705.
Report author: Denish Patel
Publication date: 23/05/2017
Date of decision: 22/05/2017
Decided at meeting: 22/05/2017 - Cabinet
Accompanying Documents:
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