New Homes Programme Update – Bampton Estate part 2
Additional documents:
Decision:
Having considered a confidential officer report, and a presentation by the
Cabinet Member for Housing, Councillor Paul Bell, the Mayor and Cabinet
agreed that:
(1) the revised scheme has reduced costs compared with the previous
application and the scheme has a stated positive NPV;
(2) the cost for the architects and other professional services required to
submit a revised scheme was approved in the 2nd PID report submitted in
February 2019 with the PID not covering the Post-Contract programme costs,
fees or any works including detailed design and build of the homes.
(3) the revised scheme which retains 19 Bampton Road negates the need to
purchase from L&Q and demolish 19 Bampton Road (stated sale price plus all
associated legal/valuation costs and demolition).
(4) the revised scheme provides 39, 1-bedroom social rent housing units and
these are to be let at London Affordable Rent (LAR) levels and the scheme
appraisal assumes a stated LAR rental income of per unit, per week plus
service charge;
(5) a decision by Mayor and Cabinet on 11 July 2018 approved a construction
budget for the Bampton scheme.
(6) Parts 1 (public) and 2 (closed) of this item be jointly considered in order to
reach a decision on whether to progress the revised scheme to planning.
Minutes:
Having considered a confidential officer report, and a presentation by the
Cabinet Member for Housing, Councillor Paul Bell, the Mayor and Cabinet
for the reasons set out in the report by a vote of 7-0:
RESOLVED that:
(1) the revised scheme has reduced costs compared with the previous
application and the scheme has a stated positive NPV;
(2) the cost for the architects and other professional services required to
submit a revised scheme was approved in the 2nd PID report submitted in
February 2019 with the PID not covering the Post-Contract programme costs,
fees or any works including detailed design and build of the homes.
(3) the revised scheme which retains 19 Bampton Road negates the need to
purchase from L&Q and demolish 19 Bampton Road (stated sale price plus all
associated legal/valuation costs and demolition).
(4) the revised scheme provides 39, 1-bedroom social rent housing units and
these are to be let at London Affordable Rent (LAR) levels and the scheme
appraisal assumes a stated LAR rental income of per unit, per week plus
service charge;
(5) a decision by Mayor and Cabinet on 11 July 2018 approved a construction
budget for the Bampton scheme.
(6) Parts 1 (public) and 2 (closed) of this item be jointly considered in order to
reach a decision on whether to progress the revised scheme to planning.