Decision details

Authority is requested to approve  a pilot project to lease the airspace above existing council properties to Apex Airspace Development (“Apex”) who will construct new homes. The Council will be offered first refusal to buy the homes constructed in the airspace at a prior agreed price, for letting on secure Council tenancies. If the Council does not acquire the properties, Apex will be permitted to sell the properties on the open market. Delegated authority is requested to approve the leasing of the airspace to Apex  who will then progress to submitting a planning application. Delegated authority is also requested to purchase the new homes provided the cost is within the approved programme budget.

RESOLVED:  That

(1)            the progression of this pilot project to lease the airspace above existing council properties on the Berridge estate at a peppercorn rent to Apex Airspace Limited, who will seek planning permission to construct new homes with the intention that the council be offered first refusal to buy the homes constructed in the airspace for letting on secure council tenancies, be approved;

(2)            the Interim Corporate Director, Community, be authorised, following consultation with the Portfolio Holder for Housing, the Director of Finance and S151 Officer and Director of Legal and Governance Services to finalise and enter into the legal documents which are summarised in paragraph 2.3.5 of the officer report;

(3)            the Interim Corporate Director, Community, be authorised, following consultation with the Portfolio Holder for Housing and the Director of Finance and S151 Officer, to exercise the option to purchase and proceed to purchase the new homes that are constructed from Apex Airspace provided the cost is within the agreed capped price set out in the Legal documents and which will be no higher than the average maximum price per home currently approved within the Building Council Homes for Londoners programme;

(4)            the intention to recommence consultation with estate residents on the proposals be noted;

(5)            the Interim Corporate Director, Community, be authorised, following consultation with the Portfolio Holder for Housing to consider the consultation outcomes and agree proposals to meet residents’ suggestions such as those set out in section 3 of the officer report.

Reason for Decision:  To enable the delivery of new council homes.

Alternative Options Considered and Rejected:  As set out in the report.

Conflict of Interest relating to the matter declared by Cabinet Member/Dispensation Granted:  None.