Agenda and draft minutes

Strategy and Resources Committee
Monday, 14th June, 2021 7.00 pm

Venue: Virtual Meeting

Contact: Alexa Coates, Head of Committee and Management Support  Tel: 020 8770 4990 | Email:  committee.services@sutton.gov.uk

Media

Items
No. Item

1.

Welcome and introductions

Minutes:

The Chair, Councillor Ruth Dombey, welcomed those present.

2.

Apologies for absence

Minutes:

Apologies for absence were received from Councillor Manuel Abellan with Councillor David Bartolucci attending as substitute.

3.

Declarations of interest

Minutes:

There were no declarations of interest.

4.

Any urgent business

To consider any items which, in the view of the Chair, should be dealt with as a matter of urgency because of special circumstances (in accordance with S100B(4) of the Local Government Act 1972).

Minutes:

There was no urgent business.

5.

Regeneration Property Acquisition pdf icon PDF 198 KB

Additional documents:

Minutes:

The Chair introduced the item and explained that as some of the information contained in the report was exempt the meeting would start in public before considering the motion to move into an exempt session.

Richard Simpson, Strategic Director of Resources and Section 151 Officer introduced the report. It was explained that this was a regeneration rather than an investment acquisition and that the governance of such decisions had been agreed by the Strategy and Resources Committee in October 2018. 

Members discussed: due diligence, the prospects of redevelopment on the site and whether that might be residential, when the address of the property under consideration would be made public, the status of the offer by the Council and timescales for completion.

Officers advised that there were benefits to the Council having control of a strategic asset on the high street; the offer had been accepted; early July was the target date for completion and that if no one brought forward detailed proposals for the site there was a risk of the decline of retail in the town centre.

The motion to exclude the public and press was moved by Councillor Ruth Dombey and seconded by Councillor Jayne McCoy and duly carried.

 

RESOLVED: That the public and press be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in paragraph 3 Schedule 12A of the Local Government Act 1972.

The Strategic Director of Resources provided more detailed financial information regarding the proposed acquisition and a letter which had been submitted to the Council by a developer. Legal advice was given that it was felt the content of the letter should not prevent the committee making a decision.

Members discussed: the previous exclusivity arrangement with a developer who had written to the Council and the future plans for the site.

The recommendations were put to the vote and carried. In accordance with procedure rules a roll call vote was taken the result of which was:

 

Councillor Ruth Dombey

For

Councillor Jayne McCoy

For

Councillor David Bartolucci

For

Councillor Jenny Batt

For

Councillor Sunita Gordon

For

Councillor Marian James

For

Councillor Steve Penneck

For

Councillor Barry Lewis

For

Councillor Tom Drummond

Abstain

Councillor Neil Garratt

Abstain

Councillor Param Nandha

Abstain

Councillor James McDermott-Hill

Abstain

Councillor Holly Ramsey

Abstain

Councillor Tim Foster

Abstain

 

RESOLVED:

  1. That the long leasehold of the Subject Property from [4/para 2] for the sum of [5/para 2] be acquired


  2. That it be noted this acquisition is subject to a full legal and technical due diligence process, which is still in progress, the outcome of which will inform the agreement of final terms of the acquisition.


  3. That authority be delegated to the Strategic Director of Resources in consultation with the Monitoring officer to negotiate and agree final terms for the acquisition.


  4. That, as part of the acquisition, it be agreed to novate existing contracts relating to the full management of the Subject Property.