Purpose

This report seeks approval for the London Borough of Camden (the
Council) to agree compensation with the HS2 Ltd in relation to its
compulsory acquisition of the former St James’s Gardens,
Cardington St, NW1 (the Property) on 16 December 2017 by virtue of
its powers under the High Speed Rail (London to West Midlands) Act
2017. The financial assessment of the compensation offer are in the
confidential Appendix.
 
All property transactions relating to the Property was delegated
by Cabinet, at its meeting on 22 January 2014 to the Director of
Finance and the relevant Director of the Service Department holding
the property asset (in consultation with the Cabinet Members for
Finance, for Regeneration & Growth and for the Portfolio
holding the asset). Following re-organisation, the approval of the
terms of transaction of properties is now delegated to the Director
of Finance and Director of Economy, Regeneration & Investment,
in consultation with the Director of Development, Cabinet Member
for Finance and Cost of Living, and Cabinet Member for New Homes,
Jobs and Community Investment. The approval sought by this report
is within the terms of the delegated authority granted by
Cabinet.
 
 

Content

THAT the Director of Finance and the
Director of Economy, Regeneration & Investment, in consultation
with the Director of Development, Cabinet Member for Finance and
Cost of Living & Cabinet Member for New Homes, Jobs &
Community Investment, are asked to:
 

(1)      Agree to the level
of compensation offered by the Secretary of State, in full and
final settlement of claim in respect of the former St James’s
Gardens following its compulsory acquisition, on terms set out in
the confidential appendix;
 

(2)      Agree for relevant
officers to enter into a Settlement Deed that secures the
compensation offer.