Issue - decisions
Purchase of 115 Affordable Homes from Phase 2 of the Grand Union Development
12/04/2022 - Purchase of 115 Affordable Homes from Phase 2 of the Grand Union Development
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.