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:
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