MD1241 Disposal of the View Inward Investment Centre, Payne Road

Type of decision: 
Mayoral decision
Code: 
MD1241
Date signed: 
12 March 2014
Decision by: 
Boris Johnson MP (past staff), Mayor of London

Executive summary

The purpose of this paper is to seek Mayoral approval to the disposal of the View Inward Investment Centre, located adjacent to the A12 in Bromley-by-Bow, LB Tower Hamlets for conversion to residential accommodation.

The GLA currently holds a 125 year lease (commenced 31 March 2009) over the 15th & 16th floors of a residential block from the freeholder East Thames Group (ETG).

It is proposed that GLA surrender its lease to ETG given the lack of demand for the marketing suite post-Olympics, in return for a capital land receipt.

Part 1: Non-confidential facts and advice