Brent Cross Cricklewood – Hardships Buybacks and Call Option Agreements (CPO2)
Decision Maker: Deputy Chief Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
1. Where leaseholders meet the Hardship Criteria (Appendix 2), to confirm that the Deputy Chief Executive having consulted with the Chairman of the Housing and Growth Committee may authorise on behalf of the Council the acquisition of all the estate and interest held by each qualifying individual leaseholder on the Whitefield Estate Part 2 (“the Estate Rights”) in Brent Cross South (CPO2) at the new market values.
2. That any transactions authorised pursuant to 1 above be effected in accordance with the Heads of Terms as shall be agreed in respect of each property and for each acquisition to be supported by a separate COD.
3. To confirm that the Deputy Chief Executive or such other approved officer be authorised to instruct the preparation of the contracts and other appropriate required documentation for each acquisition in respect of a qualifying leaseholder referred to at 1 above to reflect the Heads of Terms and having regard to the best interests of the Council and to complete the same
4. To confirm that the Deputy Chief Executive be authorised to proceed to acquire on the basis of the use of Call Option Agreements (“the Option”) in such form as shall be agreed having regard to the best interests of the Council and to enter into and complete the same in respect of any of those residential property owners falling within Whitefield Estate Part 2 in CPO2.
5. To authorise residential acquisitions in the Whitefield Estate Part 2 by the Council at the updated market values as specified in the summary PCE as attached in the (exempted) Appendix 3.
Publication date: 27/01/2021
Date of decision: 16/12/2020