Issue details

Loans to Mercury Land Holdings Limited Company 09878652 (The Company) for the development of Quarles campus and development at Roneo Corner

To seek the agreement of  the Leader of the Council in consultation with the Director of Legal and Governance and the s151 Officer, as delegated under the September 2019 Cabinet decision, to approve that prt of the Business Plan relating to a state aid compliant and provision of equity to the Company to develop 120 units at Quarles Campus, Harold Hill and further to this, to acquire a further 20 units (within the 120 units) for its PRS portfolio, subject to the appropriate due diligence for such a loan and injection of equity being carried out.

Decision type: Key

Reason Key: Expenditure > £500,000;

Decision status: Recommendations Approved (subject to call-in)

Notice of proposed decision first published: 08/04/2021

Anticipated restriction: Part exempt  - View reasons

Contact: Garry Green, Property Strategy Manager Email: garry.green@havering.gov.uk Tel: 01708 432566.

Consultees

Theme Board, oneSource Business Partners and Board Members of Mercury Land Holdings Ltd.

Decisions