Decision type: Key

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 20/12/2018

This decision will be taken under urgency procedures.

Reason for urgency:
Heads of terms were agreed in principle with the landlord’s agents on 17th December and the Mayor and Chief Executive were consulted on the principle of the proposed terms on 18th December. In order for the Cabinet report to be written and approved in order for the matter to be considered at Cabinet on 9th January 2019 it would not be possible to provide the normal 28 days’ notice. One of the conditions set out in the heads of terms is that the landlord requires the legal transactions to be completed by 31st January 2019 and so it would not be possible for the report to be considered at Cabinet on 30th January as there would then be insufficient time to guarantee that the transactions would then be completed by the required date.

Anticipated restriction: Part exempt (Part of the report will be exempt)  - View reasons

Explanation of anticipated restriction:
The commercial terms agreed as part of the transaction are exempt until such time as the new lease is completed and registered with HM Land Registry.

Decision due: 9 Jan 19 by Cabinet

Lead member: Mayor

Lead director: Corporate Director, Place

Department: Place

Contact: Richard Chilcott, (Acting Divisional Director, Property and Major Programmes) Email: richard.chilcott@towerhamlets.gov.uk.

Consultation process

Consultees

Has an Equality Analysis been carried out and if so the result of this Assessment?: No

What supporting documents or other information will be available?: None