Decision

RESOLVED that:

A     Following satisfactory completion of negotiations and legal and property due diligence, the Leader of the Council (in consultation with the Executive Director for Communities & Regeneration; Section 151 Officer; and Monitoring Officer) proceed to exercise the delegated authorities A, B and C set out in the Cabinet/Full Council report approved on 5th June 2025.

B     The Leader agrees to incur expenditure of up to £330,000 to cover excess SDLT, fees and other purchase costs in connection with the land transaction.

Reasons for the decision

The business case and rationale for purchasing Terminus House, as detailed in the 05 June 2025 Cabinet report hasn’t changed, therefore, the Leader of the Council (in consultation with the Executive Director for Communities & Regeneration; Section 151 Officer; and Monitoring Officer) has elected to enter into a conditional contract for sale to acquire the property.

The proposals will facilitate the council’s delivery of its corporate mission to 'rebuild our town’, unlocking a key, strategic site within the town centre and, bringing forward regeneration in line with the Harlow Town Centre Master Planning Framework (HTCMPF).

The property is a prominent landmark and represents an important part of the future regeneration of Harlow town centre. The site, in recent years has been the victim of a lack of investment and low-quality conversion.  The current owners have not achieved transformational change across the site and the purchase would enable the council to take control and delivery a comprehensive redevelopment scheme that sees this strategic site contribute significantly to rebuilding our town and town centre.

Alternative options considered

Pursuant to the report to Cabinet dated 05 June 2025, Cabinet were asked to consider the option of not acquiring the property. That option has been dismissed for the reasons set out within the Cabinet Report.

On 05 June 2025 Cabinet was also asked to consider the option of acquiring the property in conjunction with a joint venture partner. Again, that option was dismissed for the reasons set out within the Cabinet Report.