Issue - meetings

Further to Minute 8 (20 June 2023), the Cabinet Member for Regeneration and Economic Development introduced a report on proposals to progress the disposal of a further 583 new homes across three new residential developments, led by Be First, as part of the Gascoigne Estate Renewal Programme.

The Cabinet Member advised that, as with the previous report, all three development sites were to be transferred, by way of leases, to the Barking and Dagenham Reside Regeneration Ltd (Reside) structure of companies who would be responsible for the letting and ongoing management of the properties.  The Cabinet Member confirmed that the developments offered a varied supply of housing, with more than 58% to be let on Affordable Housing tenures in line with the Council’s commitment to providing affordable, high quality new homes for those on its housing waiting / transfer lists.

Cabinet resolved to:

(i)  Approve, in principle, the disposal of the schemes listed below by the granting of long leases to the appropriate Reside entity (either Barking and Dagenham Homes Ltd (company no. 12090374), B&D Reside Weavers LLP (registered no. OC416198) or Barking and Dagenham Reside Regeneration Ltd (company no. 09512728)):

·  Gascoigne West Phase 1 (Block Cargo IG11 7DE, Block Carrier IG11 7NE, Block Forge IG11 7NH);

·  Gascoigne East Phase 2, Block E2 (Herring Court IG11 7YT, Leleu Court IG11 7YW, Mather Court IG11 7YX, Shuckford Court IG11 7YY, Tide Street IG11 7NJ, Ketch Street IG11 7RY);

·  Gascoigne East Phase 2 Block F1 and F2 (Fifeshire Court IG11 7YP, Cutter Court IG11 7XB, Sailor Court IG11 7YR, Ewars Marsh Court IG11 7WZ, Mizzen Street IG11 7RZ).

(ii)  Approve, in principle, the draft Heads of Terms and loans for each of the listed schemes 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 Chief Legal Officer, 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.