Decision

RESOLVED:

Mayor and Cabinet

Noted that all three bidders are outside of the estimated works costs

for Thomas Lane Yard and Achilles Street Estate Regeneration

Phase 1 and 2 reported in January 2026 and agreed that only the bids

that do not cause the BfL programme to breach its NPV benchmark

are affordable to the Council as set out in Part 2 of this report.

Recommended to Full Council the approval of the capital budgets for

Thomas’ Lane Yard and Achilles Street Estate Regeneration Phases

1 and 2, as set out in Part 2 of this report.

Subject to Full Council approval of the capital budgets for Thomas

Lane Yard and the Achilles Street Estate Regeneration Phase 1 and

2:

(i) approved the award of, and entry into, the Strategic Partnership

Agreement (SPA) with the preferred bidder; and

(ii) approved entering into Pre-Construction Services Agreements

(PCSA) for Thomas Lane Yard and Achilles Phase 1 and 2.

Approved the establishment of the Lewisham Strategic Development

Partnership Board in accordance with the SPA.

Noted that M&C approval to enter into an unconditional design and

build contract for Thomas Lane Yard and Achilles Phase 1 & 2 will be

sought at the appropriate time.

Noted that M&C approval will be sought for the Achilles Street Estate

Regeneration Phase 3 Development Agreement and its related

Affordable Housing Agreement at the appropriate time.

Delegated authority to the Executive Director for Place, in consultation

with the Director of Law and Corporate Governance, to take all

necessary steps and enter into all necessary documents to give effect

to the decisions in this report, including but not limited to finalising the

terms of the Strategic Partnership Agreement and Pre-Construction

Services Agreements (provided that these do not materially depart

from the principles set out in this report).