Decision Maker: Cabinet Member for Regeneration and Corporate Strategy
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
That the cabinet member for regeneration and corporate strategy
1. Instructed officers to formally consent to the application by Associated Newspapers Limited ("ANL") made on 21 December 2012 ("the Second Application") to assign its various leases in Harmsworth Quays ("HQ") to British Land Property Management Limited, with Union Property Holdings (London) Limited standing as guarantor (together "British Land").
2. Noted there was a previous application by ANL to assign its various leases to British Land made in August 2012 ("the First Application"). The First Application was made on the same terms, but was not accompanied by sufficient supporting documentation and information in relation to the scheme proposed by British Land. The First Application was refused on the basis set out below, and proceedings were issued by ANL (the details of which are also set out below).
3. Instructed officers, if possible, to deal with the swift disposal of the court proceedings surrounding the First Application.
4. Noted officers' recommendation that the Second Application be consented to is as a direct result of additional information provided by British Land in support of the Second Application which was previously withheld / unavailable in relation to the First Application detailing the scale and nature of the development scheme they intend to pursue at HQ.
5. Welcomed the recent announcements by King’s College University (“King’s”) to seek to establish a new major campus at Canada Water.
6. Instructed officers to work with King’s in undertaking their viability and feasibility studies.
7. Instructed officers not to negotiate the sale of the freehold or extension of the lease until King’s have gone through an estate review and tested ideas through the AAP.
Publication date: 11/03/2013
Date of decision: 11/03/2013