Issue - meetings

Further to Minutes 8 (20 June 2023) and 24 (18 July 2023), the Cabinet Member for Regeneration and Economic Development introduced a report on proposals to progress the disposal of a further 124 new homes developed as part of the Gascoigne Estate Renewal Programme.

The Cabinet Member advised that, as with the previous reports, the properties within Gascoigne East Phase 3A Block J would be transferred, by way of long leases and associated loans, to the Barking and Dagenham Reside Regeneration Ltd (Reside) structure of companies following practical completion, due in November 2023.  Block J consisted of 66 London Affordable Rent (LAR) and 58 Affordable Rent (AR) properties which the Cabinet Member confirmed would be available to those on the Council’s housing waiting / transfer lists.

Cabinet resolved to:

(i)  Approve, in principle, the disposal of the scheme below by the granting of long leases to the appropriate Reside entity (either Barking and Dagenham Homes Ltd (company no. 12090374) or B&D Reside Weavers LLP (registered no. OC416198);

Gascoigne East Phase 3A Block J

·  Farrimond House, 1 St Mary’s, Barking, IG11 7SN

·  Farrimond House, 6 St Mary’s, Barking, IG11 7PH

·  Farrimond House, 10 St Mary’s, Barking, IG11 7PH

·  Farrimond House, 13 King Edwards Road, Barking, IG11 7ZZ

·  2, 4, 6 and, 8 Fisherman Street, Barking, IG11 7AA

(ii)  Approve, in principle, the draft Heads of Terms and loans for Gascoigne East Phase 3A Block J to the appropriate Reside entity, as set out in section 2 of the report;

(iii)  Delegate authority to the Strategic Director, Finance and Investment, in consultation with the Strategic Director, Inclusive Growth, to agree and finalise the terms of the loans, leases and any other associated documents, and to take any steps necessary to ensure compliance with s123 of the Local Government Act 1972 and the Subsidy Control Act 2022; and

(iv)  Delegate authority to the Head of Legal Services, in consultation with the Strategic Director, Inclusive Growth, to execute all the legal agreements, contracts, and other documents on behalf of the Council in order to implement the arrangements.