Purpose

Cabinet is recommended to approve release of first tranche of Council land for alternative community use and to fund key community programmes.

Decision

Cabinet:

(1)           agreed the establishment of the Land Release and Community Use Programme and bring to market the following four sites to generate capital receipts, subject to the outcome of statutory and community consultation and engagement:

·       Mission Grove Car Park (High Street)

·       High Street Car Park (High Street)

·       247 Markhouse Road (Markhouse)

(2)           agreed as part of the programme to bring to market the following five sites for community or commercial use, which could generate capital receipts or rental income:

·       Former Michael Mallinson Centre land (Hale End & Highams Park)

·       66 Larkshall Road (Endlebury)

·       Queen Elizabeth Jubilee Centre, 440 Cathall Road (Cathall)

·       190-192 Vicarage Road (Leyton)

·       57-59 Farmer Road (Leyton)

(3)           agreed to commence public and statutory consultation to relocate the Leytonstone Family Hub from The Junction to Leyton Library. This will transform the site to a new multi-use community hub as part of the Thriving Neighbourhoods programme;

(4)           provided in-principle approval to explore leasing The Junction building, Subject to statutory consultation. This would facilitate the expansion of post-16 learning provision for local residents, directly supporting community wealth building objectives in the Borough.  Exempt Appendix 1 – Financial Implications of the report details the potential financial benefits;

(5)           noted the progress on activity already underway to bring vacant and newly constructed buildings into community use or for income generation, including 66 Larkshall Road, Jubilee Centre, Health Facilities at the Jazz Yard and the new Civic building at Fellowship Square;

(6)           agreed that the final decision and negotiation of final terms to release these sites are delegated to the Strategic Director of Place in consultation with the Strategic Director of Resources and the Corporate Director of Governance and Law;

(7)           agreed the delivery budget detailed in exempt Appendix 1 – Financial Implications of the report to undertake legal and marketing activity required to release sites and change uses;

(8)           noted that future sites will be progressed following the initial delivery of sites within this report, with a subsequent funding request to Cabinet.

Options & Alternatives Considered

The Asset Transformation Strategy establishes the vision and guiding principlesfor the Asset Transformation Programme. Withoutan approved strategy, there would be no clear outcomes or objectives to guideproperty-related decisions, increasing the riskof suboptimal outcomes for the Council and the borough. The option of proceedingwithout a strategy is therefore not recommended.

The Phase 1 Delivery Plan will remain subject to further due diligenceand any necessary statutory consultation. It will be maintained as a live document and reviewed regularly by senior officers and members, enabling the programmeto respond to stakeholder feedback, emergingrisks and changing circumstances. Future phaseswill consider wider strategic priorities asservice requirements are further developed.

Under a ‘do-nothing’ scenario, sites would not be brought forward togenerate capital receipts or rental income.As a result, the Council may needto borrow at higher interest rates to fund priority initiatives, such as theCommunity Spaces Programme, or seek additionalExceptional Financial Support to balance theMedium-Term Financial Strategy. This would increase financial pressure on the Council and limit its ability to invest in priority services and programmes.