1. That Notting Hill Housing Group acquires the head lease of 248 Hammersmith Grove (see site plan in Appendix 1) from the London Borough of Hammersmith and Fulham, subject to final terms being agreed between the Council and Notting Hill Housing Group (NHHG).
2. That the Assistant Director (Legal and Democratic Services), in conjunction with the Director of Community Services, the Director of Finance and Corporate Services and the Head of Asset Management and Portfolio Management agree the Heads of Terms for the sale of the head lease specified in the report.
3. That the Council assists NHHG with their site assembly by purchasing any long non–resident investment sub-leasehold interest not already acquired by them, and to the Council making and implementing one or more compulsory purchase orders where a negotiated sale by the non–resident investment sub-leaseholders would (in the opinion of officers) be unlikely to succeed or unlikely to complete within NHHG’s timescale for commencement of its development be agreed. Such assistance to be subject to NHHG financing the purchase price and bearing all costs (including compensation, disturbance payments, loss payments, taxes, legal and surveyors’ costs and any rehousing costs) and indemnifying the Council against them all, and following such acquisition to transfer or surrender to NHHG all interests so acquired for no further consideration (other than any costs associated with such transfer or surrender).