Issue - meetings

This report seeks permission to purchase the long leasehold interest of a new-build residential block located at the Grand Union scheme on Beresford Way, Alperton, HA0 1NW.

Cabinet RESOLVED:

(1)       To approve a budget of £30.27m to purchase the long leasehold interest in 115 affordable homes from the Grand Union scheme, 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 2022.

(2)       To delegate authority to the Strategic Director of Regeneration & Environment in consultation with the Cabinet Member for Regeneration, Property and Planning, to negotiate and agree the terms and thereafter enter into a contract with the developer for the purchase of the scheme and make any necessary additional amendments required to the contract thereafter.

(3)       To note that the Strategic Director of Regeneration & Environment pursuant to powers delegated under Part 3 of the Constitution will procure and award various contracts for professional services relating to the construction supervision of the 115 homes that are to be purchased by Brent Council.

Councillor Southwood (Cabinet Member for Housing & Welfare Reform) introduced a report seeking approval to purchase the long leasehold interest of a new build residential block in order to provide 115 affordable rented homes within the property located at the Grand Union scheme development, Alperton from St George Development Ltd.

In considering the report, Cabinet noted (as with the previous item) that the approach identified in relation to this scheme again reflected the Council’s aim to proactively maximise opportunities as they arose to increase the supply of affordable housing within the borough and followed the successful purchase of 114 units for the same purpose under Phase 1 of the Grand Union development.

Members again commended the approach and noted that the proposed tenure breakdown had been confirmed as meeting the essential housing needs of those on the housing register and in terms of the beneficial location of the scheme.

In thanking officers for their efforts to finalise the proposal, members also noted the progress and positive impact of the Grand Union development in terms of the overall regeneration of the local neighbourhood and environment.

As a result, Cabinet RESOLVED:

(1)       To approve a budget of £30.27m to purchase the long leasehold interest in 115 affordable homes from the Grand Union scheme, 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 2022.

(2)       To delegate authority to the Strategic Director of Regeneration & Environment in consultation with the Cabinet Member for Regeneration, Property and Planning, to negotiate and agree the terms and thereafter enter into a contract with the developer for the purchase of the scheme and make any necessary additional amendments required to the contract thereafter.

(3)       To note that the Strategic Director of Regeneration & Environment pursuant to powers delegated under Part 3 of the Constitution will procure and award various contracts for professional services relating to the construction supervision of the 115 homes that are to be purchased by Brent Council.