Decision details

Purchase of 114 Affordable Homes in Alperton

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To consider the acquisition of Grand Union Phase One Affordable Homes

 

Decision:

Cabinet RESOLVED:

 

(1)      To note the content of the report, including the amendment to the figure in section 6.2 of the report which should read 92 and not 22 affordable homes.

 

(2)      To approve the proposed purchase of the long leasehold interest in 114 affordable homes within the scheme currently in development for the purchase price of £27m (plus statutory costs), subject to contract and subject to a) clean and marketable title b) financial and legal due diligence and c) vacant possession, with a target exchange of contract in May 2020

 

(3)      To delegate authority to the Strategic Director of Regeneration & Environment in consultation with the Lead Member for Regeneration, Highways, Planning, to negotiate and agree the terms and thereafter enter into a contract with the developer for the purchase of the scheme.

Wards Affected: Alperton;

Contact: Hakeem Osinaike, Operational Director Housing Email: Hakeem.Osinaike@brent.gov.uk Tel: 020 8937 2023.

Report author: Hakeem Osinaike

Publication date: 21/04/2020

Date of decision: 20/04/2020

Decided at meeting: 20/04/2020 - Cabinet

Effective from: 28/04/2020

Accompanying Documents: