Decision Maker: Cabinet

Outcome: Decision approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: October 23, 2025

Purpose: The report will seek approval to enter a lease with an operator for the Stratford Picturehouse following a competitive expression of interest bidding process.

Content: For the reasons set out in this report and its appendices, Cabinet RESOLVED to Agree to:   i)  Approve entering into a lease agreement with OFJ London Ltd (trading as Oxygen ActivePlay) to occupy and operate the Council owned asset at Former Stratford East Picturehouse, Stratford, London E15 1BX (“former Stratford East Picturehouse”). ii)  Delegate authority to the Corporate Director for Inclusive Economy, Housing and Culture to agree terms of the lease disposal, in consultation with the lead member for Inclusive Economy, Strategic Housing and Culture and the Cabinet member for Finance and Resources.   Alternatives considered   a)  The Council could choose to lease the former Stratford East Picturehouse to one of the other bidders, however the financial offer from Oxygen ActivePlay is significantly higher and the offer has been deemed the most advantageous to the Council, particularly in the context of the Best Value Notice. Refer to Exempt Appendix 1 for detailsof bids received. b)  The Council could choose to market the former Stratford East Picturehouse again to seek alternative bidders however, the cost of leaving the property vacant is significant and this option is therefore not deemed to be in the best interest of the Council or the local economy in Stratford town centre. c)  The Council could choose to seek a full disposal option or form a partnership for redevelopment of the site, however it would take a significant amount of time to develop the plans for this and ensure the redevelopment is carried out in alignment with the Stratford Vision and other Council Policies. Therefore, it is recommended that a lease is progressed, and the long-term option for full redevelopment continue to be considered in due course.