Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: July 14, 2025

Purpose: To approve the acquisition of a property portfolio for use as temporary accommodation.

Content: Cabinet approved the following recommendations: ·       Approved the principle of proceeding with the acquisition of the Property for a sum of up to £27,500,000 (TWENTY-SEVEN MILLION FIVE HUNDRED THOUSAND POUNDS) exclusive of value added tax based on the principal terms set out in Part B of this report. ·       Approved in principle the additional capital expenditure required as detailed in Part B of this report, to bring the Property and its flats up to a reasonable standard for temporary accommodation occupation and to cover the stamp duty land tax costs and other costs associated with the acquisition. ·       Delegated authority to the Executive Director of Finance and Resources, following consultation with the Cabinet Member for Finance and Council Reform, subject to all necessary due diligence, to agree the commercial terms of the acquisition of this Property including final price and enter to all associated legal agreements and documentation.   Reasons for Decision: The acquisition is part of wider Council strategy to address the growing problem of homelessness within Westminster, to build resilience into the Council’s temporary accommodation estate and to mitigate the escalating costs of addressing homelessness through the use of emergency accommodation.