Decision details

New Freehold Commercial Property Acquisition

Decision Maker: Cabinet Member for Finance, Property and Regeneration

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


Mixed use building in W2


1.         That this report be exempt from disclosure by virtue of the Local Government Act 1972, Schedule 12A, Part 1, paragraph 1, in that it contains information relating to an individual and paragraph 3 in that it refers to the financial or business affairs of others (including the authority holding that information).

2.         That the Cabinet Member for Finance, Property and Regeneration approved a gross spend of up to the amount set out in the report for the acquisition of freeholds as specified in the report located in W2, London and that authority be delegated to the Executive Director of Finance and Resources to conclude negotiations in the best interest of the Council, including the negotiation of all heads of terms and arranging for all legal documentation in association with the purchase to be completed.         

Reasons for Decision    

Recommendation to purchase a mixed use investment to facilitate redevelopment in the area.

Publication date: 03/09/2019

Date of decision: 03/09/2019

Effective from: 11/09/2019