Purpose

This report sets out the justification for agreeing a surrender and regrant of existing commercial leases (lease re-gear) at 104 and 106 Camley Street to enable the redevelopment of these sites and aid regeneration of the wider Camley Street area.

We Make Camden is our joint vision for the Borough, developed in partnership with our community. The Community Investment Programme (CIP) contributes to the aspirations set out by our communities through We Make Camden by building homes that are safe, genuinely affordable, the right size, and accessible

On 7th September 2022, the Cabinet  Report Link committed to a vision for a highly sustainable new neighbourhood with new homes, employment space; jobs, training and skills for local residents; and new public green and open spaces to be delivered through the disposal and lease regear of its land holdings in Camley Street and Cedar Way

Cabinet delegated authority to the Executive Director Supporting Communities and the Executive Director Corporate Services to “the approval of the terms of leasehold restructuring for neighbouring sites at 104, 106 and 108-114 Camley Street to deliver regeneration and generate a receipt to fund affordable housing delivery elsewhere in the Borough”

The Borough Solicitor has advised that this delegation was sought in error as it delegated authority to two named officers rather than the intended one officer.  This delegation was subsequently amended on 20th March 2026 by a single member decision Report Link taken by the Leader of the Council so that authority be delegated to the Executive Director Investment, Place and Opportunity, following consultation with the Cabinet Member for New Homes, Jobs and Community Investment, the Director of Development, the Director of Finance, the Director of Environment and Sustainability, the Head of Property and the Borough Solicitor.

Decision

(i)                 THAT the Heads of Terms for the surrender and regrant of existing leases at 104-106 Camley Street, on the terms as set out in more detail in the Part II Exempt Appendix on terms which secure best consideration for the Council, be agreed; and

(ii) THAT authority be delegated to the Chief Valuer, following consultation with the Borough Solicitor, to conclude the transaction.