Proposal to declare surplus and dispose of the land and buildings associated with 255 – 279 Cambridge Heath Road, London, E2 0EL on a 199 year lease by informal tender.

The Mayor noted the exempt appendix.

The recommendations were amended and then agreed.

DECISION

1. To note the contents of this report;

2.    To agree that the land and buildings at 255 – 279 Cambridge Heath Road, E2 0HQ (as shown on the plan in Appendix A to the report) are surplus to requirements;

3.    To agree to the disposal of the site by informal tender but with a planning brief to be provided;

4.    To agree to the disposal of the site on a 199 year lease;

5.    To authorise the Corporate Director, Development & Renewal, to appoint external agents to support the marketing of the site;

6.    To authorise the Corporate Director, Development and Renewal to accept the best tender return for the site on conclusion of the marketing exercise;

7.    To authorise the Corporate Director, Development and Renewal, to agree the precise boundary of the land to be sold in order to implement the recommendations above.

8.    To authorise the Corporate Director, Development and Renewal, following consultation with the Corporate Director of Law Probity and Governance, to agree the terms and conditions of any agreements required to implement the recommendations above.

9.    To note that the Direction issued by the Minister on 17^th December 2014 requires the Council, until 31^st March 2017, to “…. Obtain the prior written agreement of the Commissioners before [emphasis added] entering into any commitment to dispose of, or otherwise transfer to third parties, any real property other than exisiting single dwellings for the purposes of residential occupation”.  This report relates to the disposal of land through the sale of a lease and accommodation written consent of the Commissioners will be required before any sale can take place.

Action by:

CORPORATE DIRECTOR, DEVELOPMENT AND RENEWAL (A. DALVI)

(Service Head, Corporate Property and Capital Delivery (A. Sutcliffe)