Issue - meetings
Sale and Leaseback of Flats at St Pauls House, Jericho to enable redevelopment of the wider site
Meeting: 12/02/2019 - City Executive Board (became Cabinet on 13 May 2019) (Item 143)
The Interim Regeneration and Economy Programme Director has submitted a report to approve the sale of the freehold interest in St Paul’s House, Jericho to Lucy Group Ltd and leaseback of five flats on long leases to enable the whole site to be redeveloped.
Recommendation:That the City Executive Board resolves to:
1. Approve the disposal of the freehold interest in St Paul’s House and leaseback of the 5 tenanted flats on the terms set out in the not for publication Appendix 3; and
2. Delegate authority to the Interim Regeneration and Economy Programme Director or his successor, to vary those terms on condition that the revised terms continue to represent the best consideration reasonably obtainable.
Additional documents:
- Appendix 1 plan, item 143 PDF 1 MB
- Appendix 2a PA-10 Proposed Ground Floor Plan (1), item 143 PDF 1 MB
- Appendix 2b PA-11 Proposed 1 2 3 Floor Plan, item 143 PDF 1 MB
- Appendix 4, item 143 PDF 41 KB View as DOCX (143/5) 17 KB
- Appendix 5 181120 Risk Regiester SPH, item 143 PDF 934 KB
- Appendix 6 Initial Equalities Impact Assessment, item 143 PDF 134 KB View as DOCX (143/7) 54 KB
Minutes:
The Interim Regeneration and Economy Programme Director had submitted a report to approve the sale of the freehold interest in St Paul’s House, Jericho to Lucy Group Ltd and leaseback of five flats on long leases to enable the whole site to be redeveloped.
The Surveyor (Regeneration and Major Projects) said the report sought to unlock the difficulties associated with the joint ownership of the St Paul’s House and allow for its timely and sympathetic redevelopment.
Key to the proposal was the protection which would be provided to existing Council tenants who would be guaranteed a home of equal size, either in the new development or elsewhere as they wished. It was agreed that these guarantees should be made clear on the signage associated with the project.
The City Executive Board resolved to:
1. Approve the disposal of the freehold interest in St Paul’s House and leaseback of the 5 tenanted flats on the terms set out in the not for publication Appendix 3; and
2. Delegate authority to the Interim Regeneration and Economy Programme Director or his successor, to vary those terms on condition that the revised terms continue to represent the best consideration reasonably obtainable.