Issue - meetings

To approve the acquisition of the freehold interest in 132 Queens Road London SE15 2HP as part of the office accommodation strategy.

RESOLVED:

1.  That the circumstances leading to the proposed acquisition of the freehold interest in 132 Queens Road and actions and investment due diligence being undertaken by officers and their advisors be noted.

2.  That the acquisition of the freehold interest in 132 Queens Road (identified edged black on the plan in Appendix 1) and related costs be approved.

3.  That authority be delegated to the Chief Executive, advised by and in consultation with the Strategic Director of Finance and Governance and Head of Property, to:

a.  Complete the purchase of the freehold interest in the asset;

b.  Agree detailed transactional terms pursuant to the Heads of Terms;

c.  Agree the financing structure to be adopted to fund the acquisition of the assets.