Agenda item

Report of the Chief Planning Officer and Development Director.

The Committee considered a report of the Chief Planning Officer and Development Director seeking approval in principle for the acquisition of land for planning purposes to facilitate the redevelopment of the site at the corner of Bishopsgate and Leadenhall Street.

The Comptroller and City Solicitor drew the Committee’s attention to the tabled addendum report which included letters of representations from stakeholders, clarified two points as a result of the representations and gave the Committee an overview of the proposal and recommendation. The Committee was advised that this would not be the final decision and the Town Clerk would have to consider the proposal at a later stage.

RESOLVED - That SUBJECT TO the Town Clerk being satisfied that there is an appropriate Indemnity in place and that it is necessary in order to facilitate the carrying out of the Development (including consideration of whether those entitled to rights of light and other easements and the benefit of restrictive covenants are prepared by agreement (on reasonable terms and within a reasonable period) to permit infringements or breach of the restrictions in time to achieve practical completion by 2022) that the Town Clerk be given delegated authority, in consultation with the Chairman and Deputy Chairman of the Planning and Transportation Committee, to approve the following:

(i)      Acquisition of an interest in the Redevelopment Site by the City under S227 in order to engage powers under S203 for the planning purpose of facilitating the carrying out of the Development and subsequent disposal of that interest to the Developer (or an associated company) under section 233 of the TCPA; and

(ii)    the terms on which the acquisition and disposal referred to above are to be made.