Content

Appendix 1 of this report is not for publication as it contains
exempt information of the description contained in paragraphs 14,
16 and 21 of Schedule 12A of the Local Government Act
1972.
 
AGREED
that a Deed of Variation be entered to vary the
terms of the fixed price sale agreement entered into with
Willowmead Holdings Ltd for the sale of
28 newly constructed apartments at the former Paddle Steamer site
in Butetown. This will allow for the
balance of the purchase price to be paid in sectional quarterly
payments to be made in arrears to the Developer to assist
cashflow and mitigate interest
payments.
 

Reasons for the decision

To enable Communities &
Housing to purchase the new development for new Council housing
within the Housing Revenue Account (HRA) and to offset inflationary
cost increases that have occurred since the original Cabinet
Decision was made on the 12th December 2019.