Purpose

Approval to complete
acquisition of a 60-year lease to facilitate provision of a new
children’s home.

Decision

That:
 
· 
The Director of Planning & Growth and the Head
of Property enter into the arrangements for taking a Lease of 1
Colyton Road from London & Quadrant Housing Trust (L&Q),
and to complete a Licence for Alterations for proposed improvement
works – as a simultaneous addendum to the Lease be authorised
by the Strategic Director of Resources.
 
· 
Circumstances leading to the proposed letting, and
the due diligence being undertaken by officers and their advisors
be noted by the Strategic Director of Resources.
 
· 
The financial arrangements for the proposed Lease,
(along with the proposed Licence for Alterations and proposed Works
Contract), and the time-limited availability of a Department for
Education (DfE) match funding grant – all to enable the new
service provision of a second new children’s home be noted by
the Strategic Director of Resources.
 
· 
The Director of Planning and Growth and the Head of
Property delegate authority to the Strategic Director of Resources
to:
 
a) 
Complete the Lease (leasing-in of the property) and
the associated Licence for Alteration from L&Q; and
 
b) 
Agree any minor amendments to the Lease terms
outlined in the BV19 (see Appendix 3), and/or the Licence for
Alterations terms.