Issue - decisions

49 Brixton Station Road/6 Canterbury Crescent - Decision to Award Contract to Preferred Delivery Partner

20/09/2021 - 49 Brixton Station Road/6 Canterbury Crescent - Decision to Award Contract to Preferred Delivery Partner

a)    For the Council to enter into a Development Agreement with London Square for the redevelopment of the identified sites.

b)    To delegate the finalisation of the Development Agreement to the Strategic Directors of Sustainable Growth and Opportunity, in consultation with Director of Legal and Governance, in line with the key terms outlined in this report and for the Council thereafter to enter into that agreement with London Square.

c)    In accordance with and subject to the provisions of the Development Agreement to enter into a long lease of at least 250 years for each Development Phase on satisfaction of Conditions Precedent with London Square.

d)    To create a new capital budget of £3,200,000 to carry out works to separate the utility services supplying the Brixton Rec and International House, in preparation for the development.

e)    To create a new capital budget of £400,000 to cover professional fees, legal and commercial services costs anticipated over the life of the project.