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To sign a Deed of Surrender associated with
historic substation lease no longer required.

Reasons for the decision

In anticipation of implementing a historic
planning consent granted for the site, the Council entered into a
lease agreement with South Eastern Power Networks PLC to facilitate
construction and operation of two substations which were necessary
for the new development. SEPN has agreed to surrender the lease as
it is no longer required. The position of any new substations and
the associated easements required for the new scheme is to be
determined and new agreements will be entered into as necessary in
the future. SEPN has prepared and issued a Deed of Surrender, which
the Council will also sign. The Deed of Surrender will see SEPN
relinquish its existing rights on the site. This will remove an
unnecessary encumbrance on the land, and unnecessary obligations on
the Council, which is beneficial both in terms of our ability to
provide vacant possession to Wates once the Development Agreement
conditions precedent have been satisfied and in respect of the
proposed future disposal of the non-affordable land within the
site.

Alternative options considered

The lease is specific to the parameters of a
scheme which is not being delivered, and a lapsed planning consent.
The lease did not contain provisions for the Council to terminate
so it was necessary to obtain agreement from SEPN to surrender the
lease to resolve this issue.