Purpose

This report seeks to amend the structure of the payment profile for the redevelopment of 31 Daleham Gardens by a company called NW3 Community Land Trust (CLT), as approved by Cabinet in September 2020 (reference SC/2020/89).

This report is coming to the Executive Director Investment, Place & Opportunity because the delivery Strategy approved in August 2023 is no longer viable in terms of delivering Council objectives for the site. This is due to additional, previously unknown constraints identified on site and challenging market conditions exacerbated by external factors such as the uncertainty in the Middle East.

The revised approach proposed in this report will enable the delivery of the scheme, ensuring Camden residents benefit from 14 new homes, 8 of which will be affordable. The upfront payment of a land receipt has been deferred to the end of the project so that, should market conditions allow, the potential to receive some or all of the previously agreed land receipt still remains. This forms a risk-share approach which has also been endorsed by the Greater London Authority (GLA), who will also defer receipt of a revenue loan made to NW3 CLT.

This proposal was considered by the Council’s internal Community Investment Programme (CIP) Executive Directors officer steering Board on 28 May 2026. The Board supported the principle of continuing with the Community Land Trust proposal on the basis of a deferred land payment subject to formal Council decision making. This was on the basis that officers seek improved surplus-sharing arrangements with the GLA and provide details on the Council's step-in rights, both of which have been addressed and are detailed within this report.

This report is coming to the Executive Director Investment, Place & Opportunity because it relates to amending the delivery strategy, the implementation of which was originally delegated to the Executive Director by Cabinet (same approval as above).

Decision

THAT the Executive Director Investment, Opportunity & Place (following consultation with the Cabinet Member for New Homes and Communities, the Cabinet Member for Finance and Cost of Living, the Cabinet Member for Better Homes and Homelessness Prevention, the Executive Director Corporate Services and the Borough Solicitor)

1)     Approves the revised delivery Strategy for the redevelopment of 31 Daleham Gardens by NW3 Community Land Trust which sees the Council move away from a guaranteed land receipt at the point of disposal to a surplus reliant variable land receipt deferred until completion of the project, as set out in paragraph 1.14 of this report.

2)     Authorises the Director of Development to take all steps to negotiate terms and enter into contract documentation with NW3 Community Land Trust reasonably required to secure implementation of the revised delivery Strategy referred to in recommendation 1.