Acquisition of 9 properties at Kidnappers Lane
Decision Maker: Director of Finance and Assets and Deputy Section 151 Officer - Gemma Bell
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To approve the legal contracts for the acquisition of 9 x properties (Plots 9-17 inclusive) at Kidnappers Lane, Cheltenham, GL53 0NL, via the S106 Agreement with Newland Homes Ltd. Agreement of the Land and Golden Brick Contract, JCT D&B 2016, and Transfer documents (TP1 Schedule). Upon receipt of approval, CBC via TLT LLP will be able to execute the contracts and ensure the exchange of contracts by the deadline of 1st March 2023. Completion of the homes is expected no later than the longstop date of 31st March 2024.
Reasons for the decision:
The acquisition of the properties was initially approved on the 6th December 2022. This subsequent decision is required to finalise the contracts and associated legal documentation and enable the purchase to proceed as required.
Alternative options considered:
Not to award contract - rejected on the basis that the affordable homes would be secured by another RP.
Wards Affected: (All Wards);
Other reasons / organisations consulted
CBH officers have been working with externally appointed solicitors, TLT LLP, to agree the contract wording and associated legal documents required to enable the properties to be acquired by CBC and rented/sold by CBH on behalf of CBC.
Following ongoing negotiations between all parties, CBH officers (in conjunction with our solicitors) have confirmed that the JCT Design & Build (2016) Contract agreement, and transfer are acceptable.
Consultation has taken place between CBC and CBH officers who are supportive of the properties being acquired. The scheme has also been discussed and endorsed by Strategic Housing Delivery Group and Cabinet Member Working Group.
Contact: Gemma Bell, Director of Finance and Assets and Deputy S151 Officer 01242 264124 Email: Gemma.Bell@cheltenham.gov.uk.
Publication date: 07/03/2023
Date of decision: 07/03/2023
Effective from: 15/03/2023