Decision details

Acquisition of a site in SW1

Summary of Decision

The Cabinet Member for Finance and Council Reform has approved the below recommendations:

·       Acquisition of the freehold interest in Hopkinson House, 88 Vauxhall Bridge Road, London SW1V 2RW (subject to legal due diligence) for the price detailed in the confidential appendix.

·       Spend from the Temporary Accommodations acquisitions budget to meet the cost of this purchase.

·       Delegated authority to the Executive Director of Finance and Resources to agree the terms of the purchase contract, following legal due diligence, and complete the acquisition at the approved figure.

Reason for Decision

The Council has a statutory obligation to provide housing for those in housing need and has established an ongoing programme of temporary accommodation acquisitions to meet increasing demand within Westminster. Hopkinson House is being purchased with intention to convert the building for use as temporary accommodation. It will deliver a minimum of 33 extra in-borough temporary accommodation units, as well as prevent the potential permanent loss of this longstanding social housing asset to the private housing sector.