Issue - meetings

The Cabinet Member for Finance, Performance and Core Services presented a report on proposals to progress the first element of the Barking Riverside Gateways Housing Zone at 12 Thames Road, Barking, which would involve the development of a co-location scheme including ground floor industrial units and upper floor residential units.

The Cabinet Member explained that whilst the site at 12 Thames Road was owned by the Council, a thin strip of adjacent land that formed part of the planning approval was in the ownership of Barking Riverside Ltd (BRL).  Initially, agreement had been reached with BRL for the Council to purchase the strip of land. However further discussions had identified an opportunity for a land swap arrangement that would benefit both parties, with each covering their own legal costs. 

Cabinet resolved to:

(i)  Agree to the land swap arrangements with Barking Riverside Limited on the terms set out in the report, whereby the Council shall acquire the freehold interest in the land shown edged red in Appendix 1 to the report in exchange for surrendering the Council’s leasehold interest in the land shown shaded orange in Appendix 2 to the report; and

(ii)  Authorise the Director of Law and Governance, or an authorised delegate on her behalf, to execute all the legal agreements, contracts and other documents necessary to implement the arrangements on behalf of the Council.