Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: June 3, 2025

Purpose: Cabinet is recommended to:   Approve the Council’s Asset Transformation Strategy 2025-2030. Agree the Phase 1 Asset Transformation Programme. Approve the disposal of Church Lane Car Park to the selected preferred bidder and as a result agree the statutory closure of a public car park.  

Content: Cabinet:   (1)          agreed the Asset Transformation Strategy 2025-2030, attached as Appendix 1 to the report;   (2)          agreed to establish the first phase of the Asset Transformation Programme. The programme will commence due diligence to bring forwards the release of surplus buildings and council-owned sites (identified for growth in the Local Plan) for regeneration, along with the conversion of four vacant buildings into temporary accommodation for residents in housing need;   (3)          agreed to commence consultation, under the Traffic Management Order procedure, on the closure of Church Lane Car Park and that the final decision to close Church Lane Car Park be delegated to the Strategic Director of Neighbourhoods and Environment;   (4)          subject to the closure of the car park, agreed in principle the sale of Church Lane Car Park to the preferred bidder, Pocket Living Limited, for the estimated capital receipt set out in exempt Appendix 2 to the report, subject to planning consent being granted;   (5)          noted that the Multi Use Games Area (MUGA) and playground will be temporarily closed during the re-development of Church Lane Car Park but will ultimately be re-provided to a higher quality as part of the longer-term development of the site; and   (6)          agreed that the final decision and negotiation of final terms to sell Church Lane Car Park, subject to a decision to close the car park, are delegated to the Strategic Director of Place in consultation with the Strategic Director of Resources and the Corporate Director of Governance and Law.   Options & Alternatives Considered   Asset Transformation The Asset Transformation Strategy sets out the vision and principles for the Asset Transformation Programme which reflects the current strategic context and aligns to Mission Waltham Forest. Without a robust Strategy, there would be no clear strategic outcomes or objectives against which to make property-related decisions, which could result in sub-optimal outcomes for the council and the borough. As such, no alternative option is to be considered.   The Delivery Plan for the Phase 1 Asset Transformation Programme will be subject to due diligence and the necessary statutory consultations. It will be a dynamic document regularly reviewed by senior officers and members to ensure the programme is responsive to engagement with key stakeholders during the process. Future phases are to consider wider strategic need as service needs are developed.   Church Lane Car Park Do nothing – this option was considered but given the site’s strategic location and size, the site offers an excellent opportunity to release inherent strategic value, when local authority finances are generally under increasing pressure. In addition, this would be against the principles of the Council’s Climate Action Plan of re-purposing council car parks and the Local Plan Part 2 where the site is a Site Allocation. To do nothing and retain the site in its existing use would also forego the opportunity to deliver much-needed affordable housing within the borough and support council finances.   Self-develop the site – this option was considered but rejected based on the capital resources required to design, plan and construct a scheme of this size and nature. A sale takes the risk away from the council, especially in light of recent construction inflation, but provides a benefit in terms of overage, should this scenario apply.