Agenda item

Members noted that The City would receive vacant possession of the Barbican YMCA premises at 2 Fann Street, EC2 when the notice to quit expired on the 30th September 2012.  Arrangements would therefore need to be progressed to address the future use of the building.  A Member suggested that temporary academic use might be a good prospect. 

In response to a question about receipts to the Housing Revenue Fund, Members noted that this would be confirmed by the Chamberlain.  Members were also advised that marketing would be undertaken with conditions, in order to avoid limiting possible acquisitions.  The Chairman of the RCC commented that they had enjoyed a good working relationship with the YMCA Management and asked if similar conditions could be negotiated.  The Chairman and Members of the BRC endorsed this.

RESOLVED, that:

(a)          the building at 2 Fann Street, EC2 be marketed for disposal, inviting best offers for the grant of a long lease for a premium payment and delegating authority to the City Surveyor, to determine reasonable and proper marketing conditions and criteria in consultation with the Director of Community & Children's Services, the Comptroller & City Solicitor and the City Planning Officer.

(b)       Consultant BNP Paribas be appointed to advise upon marketing at a fee cost of up to £80,000 (based on pre-tendered rates agreed under the Office of Government Commerce Framework Agreement, subject to the capped sum) plus £38,100 for marketing expenses and both, plus VAT, to be met from Community & Children's Services Department local risk, until reimbursed from any disposal proceeds.

(c)       Expenditure up to the amount of £135,700 plus VAT be approved, funded from the 2011/12 Community & Children's Services department local risk underspend, to address holding costs for the building, for the period from 1st October 2012 to 31st March 2013 and essential decommissioning and security works.

(d)       Authority be delegated to the City Surveyor, in consultation with the Chairmen and Deputy Chairmen of the Barbican Residential Committee, the Children and Community Services Committee and the Policy and Resources Committee, to approve any suitable temporary use as can be recommended upon appropriate terms and conditions and to instruct the Comptroller & City Solicitor to deal with any necessary documentation.