Agenda item

The Chair noted that the park had recently been opened by the Mayor.  The project was now reaching a critical stage and starting to deliver.  This represented a milestone in one of the largest regeneration schemes in the country.  The report included details of recommendations around funding schemes and timetables.

Members of the Committee were pleased to see that some of the new shops had started to open although there had been delays with some of the leases.  The Officers responded that the heads of terms had now been agreed.

Concerns were raised about the lack of level access in the new station.  The Chair stated that it was critical that ward Councillors are kept engaged and involved in the process.  They would organise a trip to the site for Members of the Committee.

RESOLVED unanimously to:

1.    Note the progress across the Brent Cross programme as detailed in the report; notably on the station works programme and cost challenges identified at previous committees, and also progress on Brent Cross Town achieving Phase unconditional and drawdown of the first plots.

2.    Note the change of approach regarding the timing of the proposed drawdown of the Lot 2 plots in the context of the February 2022 decision.  The Committee also:

a.    approves the revised extent of the plots as referred to above; and

b.    delegates authority to the Brent Cross Programme Director in consultation with the Chair of the Committee to negotiate and agree the heads of terms for Lot 2 and to authorise the Chief Executive to subsequently approve and enter into the transaction documents arising out of the same in accordance with the decision of this Committee in February 2022 and in accordance with this updated decision, as outlined in paragraphs 1.30-1.32 of the report.

3.    Authorise the Chief Executive in consultation with the Chair of the Committee to agree and enter into a letter with BXS LP (which Homes England may or may not be a party to) to approve the template forms of documents that are referred to in paragraph 1.33-1.35 of the report.

4.    Authorise the grant of a lease of the Claremont park Pavilion building and surrounding grounds to BXS Estate Manco Limited (together with any ancillary documents); and authorise the grant of a lease of Claremont Park to BXS Estate Manco Limited (together with any ancillary documents); and delegates authority to the Brent Cross Programme Director in consultation with the Chair of the Committee to: finalise the heads of terms for the Claremont Park lease; approve the final form of both leases (and any ancillary documents); and authorises the Chief Executive to complete the same, on the terms as outlined in paragraph 1.39 to 1.45of the report.

5.    Authorise the entry into an agreement with Hammerson (Brent Cross) Limited and Standard Life Investments Brent Cross LP (BXN) and BXS Limited Partnership (BXT) in relation to electricity distribution network arrangements including the construction of a new electricity sub-station (and any ancillary documents with either party); if required, authorise the negotiation of and entry into of a side letter or variation to the Project Agreement to make consequential amendments; and delegates authority to the Chief Executive in consultation with the Chair of the Committee to approve the final form of the agreement and any side letter or deed of variation to the Project Agreement and to enter into the same, as outlined in paragraphs 1.46-1.49 of the report.

6.    Notes the proposed entry into of a deed of variation of the Development Management and Infrastructure Development Agreement (DMIDA); authorises the entry into of a deed of variation of the related Collateral Warranty and related Delegation Warranty (together with any ancillary documents); If required, authorises the entry into of a deed of variation of the SEEB Side Agreement (and any ancillary documents); and delegates authority to the Brent Cross Programme Director in consultation with the Chair of the Committee to finalise and approve the final form of the deeds of variation (and any ancillary documents) and authorises the Chief Executive to complete the same, as outlined in paragraphs 1.50-1.53 of the report.

7.    Delegates authority to the Chief Executive in consultation with the Chair of the Committee to enter into the required agreements and documents in relation to leasehold units on the Whitefield Estate which are to be acquired by the Council as set out in paragraphs 1.54-1.58of the report. These agreements are required to safeguard the interests of the secure tenants and leaseholders who remain in occupation by limiting the form of Homes England's security over the Council's freehold interest in the Whitefield Estate.

8.    Authorises that the Council approves the approach to cease to let properties acquired by buy-back or other to council tenants and non-secure tenants and approve the use of property guardians for these properties on Whitefield Estate Part 2 outlined in paragraphs 1.59-1.64 of the report.

9.    Authorises and delegates authority to the Brent Cross Programme Director in consultation with the Chair of the Committee or the Chief Executive as specified in paragraphs 1.96-1.102 of the report to negotiate, approve and enter into the required agreements as set out in paragraphs 1.96-1.102 of the report relating to

a.    the NRIL Exclusivity Agreement,

b.    the NRIL Sale Agreement and

c.    the NRIL CPO1 and CPO2 Deed of Undertaking.

These agreements are required in order to implement the land holding arrangements agreed with NRIL to deliver the land needed for the new Thameslink station.

10.Authorises the transfer of the land forming Plot 67 to Transport for London for nil consideration; and delegates authority to the Brent Cross Programme Director in consultation with the Chair of the Committee to approve the form of transfer deed and to authorise the Chief Executive to enter into the same as outlined in paragraphs 1.103-1.107 of the report.