Issue - meetings

Appendices 1 and 3 to the report are exempt from publication as they contain commercially confidential information (exempt under paragraph 3, Part 1, Schedule 12A of the Local Government Act 1972 (as amended)).

The Cabinet received a report on the proposed purchase of the Edwards Waste site, Gallions Close, within the Thames Road regeneration area. 

The Cabinet Member for Regeneration and Economic Development explained that the plans for the regeneration of the area, primarily for residential purposes, were currently hindered by the locality of the waste transfer site.  Edwards Waste was prepared to relocate its business to the Dagenham Dock area of the Borough should an agreement be reached on the proposed terms of the sale of the Gallions Close site, which would not only improve the local environment in which Riverside School was situated but also support the objectives of the Council’s draft Thames Road masterplan and Inclusive Growth strategy.

The total cost of the purchase of the approx. 1-acre site was circa £8.5m and the report also set out the draft terms of the sale, the likely timescales involved and the financial implications for the Council.

Cabinet resolved to:

(i)  Approve the purchase of the Edwards Waste site, Gallions Close, Barking, as shown edged red in the plan at Appendix 2a to the report, in accordance with the draft Heads of Terms set out in Appendix 3 to the report; and

(ii)  Authorise the Strategic Director, Finance & Investment, in consultation with the Chief Legal Officer, to enter into all necessary legal documents to finalise the transaction in accordance with the draft Heads of Terms.