Purpose

This report seeks approval of the Executive Director of
Supporting Communities, in consultation with the Cabinet Member for
New Homes, Jobs and Community Investment, Cabinet Member for Better
Homes and Cabinet Member for Finance and Cost of Living, the
Executive Director Corporate Services and the Borough Solicitor,
for the acquisition of the 53 leasehold properties on the West
Kentish Town Estate (WKTE) to enable the Council to obtain vacant
possession of leasehold properties in order to progress through the
phases of the redevelopment of the estate.
 
This report will ask for authority be granted to purchase the 5
properties where Heads of Terms have been agreed, one property in
Phase 8 that is for sale on the open market and that overarching
authority for all the future buy backs to be delegated to the Head
of Property to agree and sign off each individual buy back once
Heads of Terms are agreed. These will be recorded on an
authorisation register. The intention of this is that we do not
need to prepare a NKED report for each purchase, thereby saving
time and proceeding to purchase after the Heads of Terms and
delegated authority are in place for each individual leasehold
property. There is precedent for this in Camden in the Temporary
Accommodation Purchasing Programme.
 
This report is intended to cover all leasehold buy backs on WKTE
including early buybacks where we buy properties that are for sale
on the open market, thereby saving on homeloss
compensation etc. or when a leaseholder’s property in a later
phase is purchased early in order to de-risk the programme.
 
 

Content

THAT the Executive Director of Supporting Communities (in
consultation with the Cabinet Member for New Homes, Jobs and
Community Investment, Cabinet Member for Better Homes and Cabinet
Member for Finance and Cost of Living, the Executive Director
Corporate Services and the Borough Solicitor) agree:
 
i)        to the
acquisition of the 53 leasehold properties on the estate in
accordance with the terms set out in the Part II appendix
 
ii)        that
authority be granted to purchase the 5 properties where Heads of
Terms have been agreed, and one property in Phase 8 which is for
sale on the open market that all future authority to purchase
leasehold properties be delegated to the Head of Property to
authorise and agree the purchase price and other terms relating to
each acquisition of the leasehold properties in accordance with
Part II of this report.