Issue - meetings

Further to Minute 80 (23 January 2024), the Cabinet Member for Regeneration and Economic Development introduced a report on proposals to progress the disposal of a further 558 new homes built at the Padnall Lake Phase 2, Gascoigne East Phase 3A Block I and Gascoigne West Phase 2 redevelopment projects.

The Cabinet Member advised that, as with previous reports, the properties would be disposed of by way of long leases and associated loans to the Barking and Dagenham Reside Regeneration Ltd (Reside) structure of companies following practical completion over the coming months. 

Cabinet resolved to:

(i)  Approve, in principle, the disposal of the New Build schemes below by the granting of long leases to the to the appropriate Reside entity identified in the report;

Padnall Lake Phase 2

-  1-26 Feldwick Road, Chadwell Heath, Romford, RM6 5BF

-  Flat 1-44 Newcombe House, Feldwick Road, Chadwell Heath, Romford, RM6 5BG

Gascoigne East Phase 3A Block I

-  Trilene House, Bowline Street, Barking

Gascoigne West Phase 2

-  Chand House, St Pauls Road, Barking, IG11 7AU

-  Plaice House, St Pauls Road, Barking, IG11 7AN

-  Trawler House, St Pauls Road, Barking, IG11 7QH

-  9, 11, 13, 15, 17, 19, 21, 23, 25 and 27 St Pauls Road, Barking, IG11 7DT

-  Fishmonger House, Healey Street, Barking, IG11 7HJ

-  Gilderson House, Healey Street, Barking, IG11 7EW

-  1-12 Healey Street, Barking, IG11 7ET

-  1-4 Sole Walk, Barking, IG11 7HE

-  32, 34, 36, 38 and 40 Gascoigne Road, Barking, IG11 7LG

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

(iii)  Delegate authority to the Strategic Director, Resources, 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 provided that such action does not materially affect the approvals granted by Cabinet; and

(iv)  Delegate authority to the Head of Legal, 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.