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Decision details

Acquisition of 3 Shaftesbury Road, N18 1SW — agreement of final contract with vendor

Decision Maker: Director of Housing, Regeneration and Planning

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No


This report is seeking delegated authority approval from the Director of Housing, Regeneration and Planning, after consultation with the Leader and the Cabinet Member for Strategic Regeneration, to agree the final Heads of Terms and the final contract for the acquisition of the 3 Shaftesbury Road property.

Reasons for the decision:

Decision under delegated authority is required following December’s Cabinet (10'h December 2019) decision to purchase the freehold interest in the property for the agreed purchase price, subject to final contract being agreed and a Red Book valuation being undertaken.

Alternative options considered:

Officers have considered the option of not acquiring the Property. Without the acquisition, the Council could not deliver the benefits provided by this property, including supporting local businesses impacted by regeneration and / or providing a source of rental income for the Council. Therefore not approving the recommendation in the report is not a viable option.

Conflicts of interest - Executive decisions: n/a

Conflicts of interest - Non executive decisions: n/a

Contact: Jordanne Robinson Email:

Publication date: 05/02/2020

Date of decision: 30/01/2020

Accompanying Documents: