Decision details

This report seeks approval under delegated authority for the award of a loan agreement to Ascendant Leisure Properties Ltd for the value of £90,000 subject to the approval of planning permission for change of use.
The business will use the loan to contribute to the design and build of a state-of-the-art bouldering and climbing centre with associated gym and cafe in the Tottenham Hale area.
OIF will be used for the fit out of the facility; specifically constructing the admissions area, café, shop and fitness gym. The funding will also contribute to other fit out costs such as the building of shower and changing cubicles and the purchase of the handholds which are used for making the climbs on the walls.

Officers’ recommendations have been approved by the Tottenham Programme Delivery Board on 9 November 2016, following evaluation of a funding application by officers, including the OIF Advisory Group made up of officers from LBH and GLA.
The recommendation is to award Ascendant Leisure Properties Ltd a loan agreement for the value of £90,000 subject to the approval of planning permission for change of use.

The project has been recommended for approval based on the evaluation of an application and business plan solicited through an open bidding round.
The evaluation process is set out in the application pack and assesses applicants’ proposals on the contribution to core criteria of the fund, strategic objectives as set out in the Tottenham Strategic Regeneration Framework and the financial and operation competency of the applicant.