Issue - meetings

This report seeks Executive approval to proceed with the disposal of the Council’s long leasehold interest in the vacant residential Housing Revenue Account (HRA) dwelling at 24a Linden Avenue NW10 5RE for a capital receipt, which is to be ring-fenced to meet future enfranchisement costs.

(i)         that approval be given to the disposal of the Council’s long leasehold interest in the subject property on the open market for a capital receipt;

(ii)        that approval be given to the Operational Director of Property and Projects, Regeneration and Growth, to agree the terms of the disposal and the most appropriate disposal route;

(iii)       that agreement be given to ring fence the net capital receipt to the enfranchisement pot, which needs to be maintained at a sufficient level to enable the Council to fund the purchase of the freehold or new extended lease term interests in suitable properties within the residential leasehold portfolio where the fixed term leases are coming to an end, as set out further in paragraphs 4.4 to 4.5 of the report from the Strategic Director of Regeneration and Growth.

The report before the Executive from the Strategic Director of Regeneration and Growth sought approval to proceed with the disposal of the council’s long leasehold interest in a vacant ground floor residential Housing Revenue Account dwelling on Linden Avenue NW10.  Councillor Crane (Lead Member, Regeneration and Major Projects) stated that the proceeds from the sale would be ring-fenced to meet future enfranchisement costs.

The Executive also had before them an appendix to the report which was not for publication as it contained the following category of exempt information as specified in Schedule 12 of the Local Government (Access to Information Act) 1972: 

Information relating to the financial or business affairs of any particular person (including the authority holding that information).

RESOLVED:

(i)         that approval be given to the disposal of the council’s long leasehold interest in the subject property on the open market for a capital receipt;

(ii)        that approval be given to the Operational Director of Property and Projects, Regeneration and Growth, to agree the terms of the disposal and the most appropriate disposal route;

(iii)       that agreement be given to ring fence the net capital receipt to the enfranchisement pot, which needs to be maintained at a sufficient level to enable the Council to fund the purchase of the freehold or new extended lease term interests in suitable properties within the residential leasehold portfolio where the fixed term leases are coming to an end, as set out further in paragraphs 4.4 to 4.5 of the report from the Strategic Director of Regeneration and Growth.