Decision details
Complete Acquisition of 381 - 397 Edgware Road, NW9 6NJ
Decision Maker: Strategic Director - Regeneration and Environment
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To exchange contracts and complete the acquisition of 381 – 397 Edgware Road, NW9 5NJ.
Decision:
That the Strategic Director Regeneration and Environment, in consultation with the Lead Member for Regeneration, Property and Planning:
i) Approves entry into a contract for the purchase of the freehold interest in the 381-397 Edgware Road, Colindale, NW9 6NJ site for £10m.
ii) Notes that under the contract referred to in (i) above, a £1m deposit will be paid upon contract exchange and the remaining £9m of the purchase price will be paid upon completion.
Reasons for the decision:
As detailed within the accompanying report.
Alternative options considered:
As detailed within the accompanying report.
Interests and Nature of Interests Declared:
None.
Cabinet/Committee Decision or Scheme of Delegation: Delegated authority
Parties Consulted: The March 2022 Cabinet paper that sought approval to aquire the site was circulated to all Ward Members. Follow up consultation with the Lead Member for Regeneration, Property and Planning has taken place prior to making this decision in relation to the recommendations. As part of the capital delivery of the Council's devvelopment of this site, further engagement will be undertaken with Ward Members and key stakeholders to address any issues as / when necessary.
Contact: Tanveer Ghani, Director - Property and Assets Email: tanveer.ghani@brent.gov.uk Tel: 020 8937 1722.
Urgent item?: Yes
Publication date: 16/05/2022
Date of decision: 16/05/2022
Effective from: 24/05/2022
Accompanying Documents:
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