Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: October 16, 2025

Purpose: Cabinet will consider the full business case for Church Street Site A.

Content: Cabinet approved the following recommendations: ·       Approved and endorsed the Church Street Site A Full Business Case annexed at exempt Appendix A and the delivery of Church Street Site A by the JV LLP. ·       Approved expenditure to the JV LLP from the Council’s Housing Revenue Account of: i. A maximum of £84.100m in Residual Land Value payment (as detailed in exempt Part B of this Report). ii. A maximum of £17.844m Social Rent Home Package Price payments (as detailed in exempt Part B of this Report). ·       Approved expenditure to the JV LLP from the Council’s General Fund of: i. A maximum of £20.000m equity (as detailed in exempt Part B of this Report). ii. A maximum of £6.208m for the Intermediate Rent Homes Package Price payments, which will be transferred to Westminster Builds when complete (as detailed in exempt Part B of this Report).   Reasons for Decision: The development of Church Street Site A is set to deliver new homes including an increase of new affordable homes (over 50% increase on the previous estate), which will include new family sized homes and an increase of public realm and play space. The FBC represents the final business case stage for Church Street Site A and reconfirms that a joint venture partnership delivery route as structured, remains the most suitable option for delivery. Once the Development Agreement becomes unconditional, Church Street Site A will be let to the JV LLP and the JV LLP will commence delivery of its business plan and the development of Church Street Site A.