ADD2177 Updated valuation of the former fire station site at Southwark

Type of decision: 
Assistant Director's decision
Code: 
ADD2177
Date signed: 
27 November 2017
Decision by: 
Tom Middleton, Assistant Director, Finance and Governance

Executive summary

As part of the implementation of the Fifth London Safety Plan (LSP5), former Mayor Boris Johnson directed the London Fire and Emergency Planning Authority (LFEPA) to close ten of its fire stations. One of those stations was Southwark. The former Mayor issued a direction to LFEPA specific to the Southwark site and involving the establishment of a new secondary school (MD1486, March 2015). Further details and conditions were included in a subsequent direction to LFEPA (MD1497, April 2015). That direction has since been amended to give the developer, Hadston, more time (that is, until 31 March 2018) to gain planning permission for the site.

It has become apparent that the initial valuation, undertaken by GL Hearn, needs to be updated to reflect prevailing market conditions and developments in planning policy. As GL Hearn remains the provider on the call-off contract available to the Greater London Authority (GLA) via a Transport for London (TfL) framework agreement, it is proposed that GL Hearn be commissioned to provide an updated valuation. The cost to the GLA would be £15,000.

Decision

That the GLA commissions GL Hearn to undertake an updated valuation of the former fire station site at Southwark at a cost of £15,000.

Part 1: Non-confidential facts and advice

Introduction and background

As part of the implementation of the Fifth London Safety Plan (LSP5), former Mayor Boris Johnson directed the London Fire and Emergency Planning Authority (LFEPA) to close ten of its fire stations. One of those stations was Southwark. The former Mayor issued a direction to LFEPA specific to the Southwark site and involving the establishment of a new secondary school (MD1486, March 2015). Further details and conditions were included in a subsequent direction to LFEPA (MD1497, April 2015). That direction has since been amended to give the developer, Hadston, more time (that is, until 31 March 2018) to gain planning permission for the site.

It has become apparent that the initial valuation, undertaken by GL Hearn, needs to be updated to reflect prevailing market conditions and developments in planning policy. As GL Hearn remains the provider on the call-off contract available to the Greater London Authority (GLA) via a Transport for London (TfL) framework agreement, it is proposed that GL Hearn be commissioned to provide an updated valuation. The cost to the GLA would be £15,000.

Equality comments

There are no specific equality issues of concern arising.

Financial comments

The GLA contribution of £15,000 will be met from the corporate contingency for 2017-18.

Activity table

Activity

Timeline

Appointment of GL Hearn

November 2017

Updated valuation provided to the GLA

December 2017