RESOLVED:
That the following be agreed:
1. the council entering into an agreement with Elephant Three Properties Limited ("E3") and Elephant & Castle Properties Co. Limited ("EC") for
(a) the acquisition by agreement by the council of a leasehold interest from University of the Arts, London ("UAL") in the London College of Communication ("LCC") site shown edged green on the plan at Appendix A of the report ("the LCC Site"). The acquisition will be under section 227 Town and Country Planning Act 1990 ("the 1990 Act") for the purpose of facilitating the carrying out of development, redevelopment or improvement on or in relation to that land; and
(b) the disposal by the council of the LCC Site by way of the grant of an underlease to UAL under section 233(1)(a) of the 1990 Act on the basis that the terms of that disposal appear to the council to be expedient in order to secure the best use of that or other land and any buildings or works which have been, or are to be, erected, constructed or carried out on it.
2. the council entering into an agreement with EC for
(a) the acquisition by agreement by the council of a leasehold interest (or interests) in the Elephant & Castle Shopping Centre site and other land in the vicinity of the Shopping Centre as shown edged red on the plan at Appendix B ("the East Site") and edged brown on the plan at Appendix C ("the Nib Site"). The acquisition(s) will be under section 227 of the 1990 Act for the purpose of facilitating the carrying out of development, redevelopment or improvement on or in relation to that land; and
(b) the disposal(s) by the council of the East Site and the Nib Site by way of the grant of an underlease (or underleases) under section 233(1)(a) of the 1990 Act on the basis that the terms of the disposal(s) appear to the council to be expedient in order to secure the best use of that or other land and any buildings or works which have been, or are to be, erected, constructed or carried out on it.
3. that the agreements referred to in recommendations 1 and 2 shall contain a full indemnity and financial security arrangements in favour of the Council and shall contain as a pre-condition to the entry into the resultant leases that the Director of Regeneration has received evidence that the LCC Site is the subject of a contract for sale between UAL and E3 and that a contract is in place between UAL and EC for the relocation of LCC to the East Site.
4. the council entering into the leasehold acquisitions and disposals envisaged by the agreements in recommendations 1 and 2.
5. that the council’s intention in acquiring the leasehold interests under section 227 of the 1990 Act is to enable third party rights that exist over the LCC Site, the East Site and the Nib Site to be overridden pursuant to section 203 of the Housing and Planning Act 2016 ("the 2016 Act").
6. The director of regeneration be authorised on behalf of the council to:
(a) finalise the terms of and enter into (i) the agreements referred to in recommendations 1 and 2, and (ii) the resultant leases and underleases in accordance with the terms of the agreements;
(b) subject to completion of the agreements referred to in recommendations 1 - 2, pay compensation properly claimed where due to third parties arising from the interference of their rights over the LCC Site, the East Site and the Nib Site in accordance with section 204 of the 2016 Act;
(c) defend or settle (as appropriate) any compensation claims referred to the Lands Chamber of the Upper Tribunal in respect of rights that are overridden due to the exercise of the council’s powers and to take all necessary steps in respect of any other legal proceedings that relate to the use of the aforementioned powers to override third party private rights over the LCC Site, the East Site and the Nib Site.