Decision

The Cabinet has decided to recommend the purchase of either shares or the freehold interest in Terminus House in Harlow.

Analysis

outcome: Recommendations were approved by the Cabinet.

summary: The decision involves the purchase of either shares or the freehold interest in Terminus House in Harlow, including commercial premises and residential units.

topline: The Cabinet has decided to recommend the purchase of either shares or the freehold interest in Terminus House in Harlow.

reason_contentious: This issue may be contentious due to the significant financial implications and potential impact on the local community.

affected_stakeholders: ["Leader of the Council", "Executive Director responsible for regeneration and property", "Managing Director", "Section 151 and Monitoring Officers", "Harlow Regeneration Partnership", "Hill Group"]

contentiousness_score: 7

political_party_relevance: There are no explicit mentions of political parties in the decision.

URL: https://moderngov.harlow.gov.uk/ieDecisionDetails.aspx?ID=1052

Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Purpose:

Content: RESOLVED that Cabinet recommended to Full Council that:   A    Delegated authority be given to the Leader of the Council in consultation with the Executive Director responsible for regeneration and property, and the Section 151 and Monitoring Officers, to determine and finalise commercial terms up to a total amount (this being the aggregate cost of the purchase price, SDLT and any corporate liabilities and transaction costs) as set out in exempt Appendix A of this report for the purchase of either:                i)        100% of the shares of Terminus House (Commercial) LLP and Terminus House Harlow Resi LLP, or               ii)        The freehold interest in Terminus House, Terminus Street including the existing multi-storey car park, commercial premises and residential units.   B    Delegated authority be given to the Leader of the Council in consultation with the Managing Director, Section 151 and Monitoring Officers, to complete the acquisition of either (i) or (ii) above, following agreement of legal contractual documentation, and completion of company, commercial, legal and property due diligence.   C    Delegated authority be given to the Leader of the Council in consultation with the Section 151 to allocate the required budget for the negotiated price (including associated costs) and to finalise any required capital financing in which the Capital Strategy and Treasury Management Strategy are amended to reflect the capital transaction.   D    The asset be transferred to the Harlow Regeneration Partnership to enable Hill Group to prepare development options to optimise the use of the site.

Date of Decision: June 5, 2025