Decision

Decision Taken:
 
1. To enter into all necessary legal
agreements to acquire a property within Pool House, Church Street
Estate, London (Church Street Site A) from the leaseholder for the
purchase price acknowledged in appendix A. This includes home loss
payment and disturbance payments in accordance with the
council’s leaseholder policy and landlord offer (noted in
appendices A and B).
 
2. To waive the outstanding Service Charges on
the leasehold account. This is in response to a service drop as the
wider estate became vacant and the leaseholder received no material
benefit. The costs are attributed as disturbances and noted in the
spreadsheet housed in Appendix A.
 
3. To accommodate SDLT payments for the
replacement property in line with the Leasehold Renewal Policy.
This will be up to or equivalent of the sold property of 18 Pool
House. The property value is outlined in Appendix A – Offer
Letter and Disturbance Payments documents.
 
 
Reasons for the Decision:
 
Vacant possession is required for Site A.
There are significant financial, and programme benefits of
completing acquisition ahead of CPO measures. The property in
question is the last remaining occupied flat and will withhold
active progression of demolition on Site A if not acquired. Several
additional costs were involved in maintaining services until CPO
measures could take effect in March. This will now be a savings at
the point of sale but more importantly, all vacant possession can
be stated as voluntarily agreed. This site has started demolition
works. Obtaining site wide vacancy allows for a streamlined
approach and without any hindrances going forward for the renewal
development.