Issue - meetings

[Report of the Director of Housing, Regeneration and Planning. To be introduced by the Cabinet Member for Finance and Strategic Regeneration.]

This report seeks approval for the acquisition of a property located at 3 Shaftesbury Road, N18 1SW (“the Property”), to support the relocation of businesses situated within the High Road West regeneration area.

The Cabinet Member for Finance and Strategic Regeneration introduced this report which sought approval for the acquisition of a property located at 3 Shaftesbury Road, N18 1SW (“the Property”), to support the relocation of businesses situated within the High Road West regeneration area.

The Cabinet Member highlighted that the acquisition of this asset, as outlined in the report, demonstrated a strong commitment by the Council to respond to the needs of businesses and provides the opportunity for them to continue in the local area, supporting the local economy and employment. The Council was committed to working with residents and businesses in delivering High Road West and providing the new Council homes, library and learning centre, commercial and retail space, high quality public realm and community park and community benefits that were required in the area.

In response to questions from Councillor Dennison, the following information was provided:

• The Cabinet Member noted it was not for the Council to consult as to whether the businesses in the Peacock industrial estate agreed to the Council acquiring a site. It was for the Council to ensure that the necessary provisions were there to offer businesses in the area.
• The Cabinet Member recognised businesses would be affected by the proposed changes in the area and the Council was doing all it could to ensure that there were alternative locations to offer affected businesses.
• Regarding offering replacement premises on the same contractual terms, the Cabinet Member noted that would be a discussion between officers and the affected local businesses but would largely be dependent on what was available.

Further to considering exempt information at item 23,

RESOLVED

1. To agree the purchase of the freehold interest in the Property known as “3 Shaftesbury Road, N18 1SW” (and shown edged red on the plan in Appendix 1) for the purchase price [referred to in the exempt part of the report] to be held in the General Fund and agree a total sum (referred to in the exempt part of the report) for the acquisition from the Strategic Acquisitions Budget [this paragraph includes information in the exempt part of the report]
2. To give delegated authority to the Director of Housing, Regeneration and Planning after consultation with the Leader and the Cabinet Member for Finance and Strategic Regeneration, to agree the final contract for the acquisition of the Property.
3. To give delegated authority to the Director of Housing, Regeneration and Planning after consultation with the Leader and the Cabinet Member for Finance and Strategic Regeneration, to agree the disposal of the Property to any businesses affected by the High Road West scheme, on the basis of progressing the objectives of the scheme, including Heads of Terms and final contract for its disposal and any works and fees required to facilitate that disposal.

Reasons for decision

The Council owns approximately a third of the land within the High Road West masterplan area and needs to acquire the outstanding land currently in third party ownership to deliver the wider benefits of  ...  view the full minutes text for item 113