Purpose

To gain approval to refurb the Clova Road office to residential accommodation for
the use of CYPS 

Decision

Decision
 
For the reasons set
out in the report and its appendices Cabinet RESOLVED to Agree:
 

i) 
For the Council to acquire the freehold interest of 63 units at 278
Oxlow Lane, Dagenham, RM10 8FB
(“the Property”).

ii) 
To delegate authority to the Corporate Director of Resources in
consultation with the Lead Member for Housing Management and
Modernisation and the Lead Member for Finance and Corporate
Services to negotiate and finalise the terms and legal
documentation for the acquisition in line with the terms set out at
exempt appendices 1, 2 and 3 and to complete the acquisition
subject to completion of the necessary due diligence; and

iii) 
That the Property should be leased to a suitable third party
housing organisation.

iv) 
To delegate authority to the Corporate Director of Resources in
consultation with the Lead Members for Housing Management and
Modernisation and Finance & Resources to determine the
arrangements for the Council’s letting of the Property in
line with paragraphs 5.3-5.11 below and to enter into the necessary
associated legal and contractual documentation.
 
Alternatives
Considered
 
a) 
The Council could choose not to proceed with the transaction and
maintain the current level of expenditure, as set out in the
February 2024 budget monitoring report. This option has been
rejected as it would not reduce the current level of costs.