Issue - meetings

To agree the council entering into an agreement with Ludgate House Limited (LHL) and Sampson House Limited to take action to engage certain statutory powers in order to facilitate the delivery of the Bankside Yards redevelopment scheme referred to as “the Scheme”.

Cabinet heard representations from local ward councillor, Councillor David Noakes and a local resident.

RESOLVED:

That it be agreed:

1.  The council entering into an agreement with Ludgate House Limited (LHL) for

a)  The acquisition by the council of the freehold of the site of the former Ludgate House (title number TGL62703), shown outlined on the plan at Appendix A, and simultaneous grant by the council to LHL of a 999-year lease of the same site.  The acquisition will be under section 227 of the Town and Country Planning Act (“TCPA 1990”) for the purpose of facilitating the carrying out of development, redevelopment or improvement on or in relation to that land; and

b)  The acquisition by way of an assignment to the council of LHL’s leasehold interest in the Airspace Land (title number TGL54167), shown outlined on the plan at Appendix B, and simultaneous granting by the Council to LHL of a 249-year sub-lease of the same site.  The acquisition will be under section 227 of the TCPA 1990 for the purpose of facilitating the carrying out of development, redevelopment or improvement on or in relation to that land; and

c)  A Put and Call Option between the council and LHL in relation to the site of the former Ludgate House and the Airspace Land, on the principal terms set out in the report.

2.  The council entering into an agreement with Sampson House Limited (SHL) for

a)  The acquisition by the council of the freehold of the site of the former Sampson House (contained within title number TGL138850), shown outlined on the plan at Appendix C, and simultaneous granting by the council to SHL of a 999-year lease of the same site.  The acquisition will be under section 227 of the TCPA 1990 for the purpose of facilitating the carrying out of development, redevelopment or improvement on or in relation to that land; and

b)  A Put and Call Option between the council and SHL in relation to the site of the former Sampson House on the principal terms set out in the report.

3.  That as a pre-condition to the transactions referred to in 1 and 2 above, LHL and SHL enter into agreements, with financial security arrangements,  to fully indemnify the council against any costs arising from these arrangements, including, but not limited to, the payment of compensation.

4.  That the council’s intention in acquiring the interests under section 227 of the TCPA 1990 is to enable third party rights that exist over the site of the former Ludgate House, the site of the former Sampson House and the Airspace Land to be overridden pursuant to section 203 of the Housing and Planning Act 2016 (“HPA 2016”).

5.  To delegate to the director of planning and growth authority to:

a)  Agree detailed terms and conditions for the transactions referred to in 1 and 2 above and to instruct completion of the legal formalities

b)  Agree detailed terms and conditions for the indemnity agreement referred to in  ...  view the full minutes text for item 16