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Brixton Somerleyton Road development and Brixton Green - funding, proposed rents etc

Discussion in 'Brixton' started by ViolentPanda, Dec 11, 2013.

  1. CH1

    CH1 "Red Guard"(NLYL)

    Further to my December 14th post, I received this notification on 2nd March 2017:
    The Community Trust has been set up!!
    [​IMG]
    Somerleyton Trust is now an official legal entity!
    The Somerleyton Trust is now registered with Companies House.
    This community trust has been set up to lease the site from Lambeth for 250 years.

    Full time Director for the Trust
    During the next two weeks, the Transition Director for the Trust will be appointed. Twenty-five impressive candidates have applied.


    TONIGHT: AGM & Housing Debate
    Venue: Pop Brixton, 49 Station Road, SW9 8PQ

    6.30pm Annual General Meeting

    7.30pm Housing Debate
    Can community-led solutions help solve the housing crisis?

    Panel:
    Patrick Smith(Chair) Senior reporter @ BuzzFeed UK
    Vidhya Alakeson, Chief Executive, Power to Change
    Laura Gardiner, Resolution Foundation
    Dinah Roake, Brixton Green

    Our mailing address is:
    Brixton Green Ltd
    89 Acre Lane
    London, Greater london SW2 5TN
    United Kingdom
    Sorry I can't reproduce he graphics. But just now I did check whether it was indeed true that the Somerleyton Trust is registered with Companies House.

    Having checked I can reveal the following information:
    SOMERLEYTON TRUST (reg 28/2/17)
    Company number 10644154
    1 officer / 0 resignations
    ALCOCK, David
    Correspondence address
    134 Edmund Street, Birmingham, Uk, B3 2ES
    Role Active Director
    Date of birth February 1969
    Appointed on 28 February 2017
    Nationality British
    Country of residence Uk
    Occupation Solicitor

    I find this all a bit bizarre. Brixton Green is constantly going on about its local credentials, yet they are apparently still in the process of taking over a company from a company formations solicitor and have not yet registered any Brixton based director.

    In retrospect I should have gone to the AGM - but there was no notice at all. I would have been interested to hear what the Resolution Foundation had to say about Brixton Green business model.

     
    equationgirl and editor like this.
  2. ricbake

    ricbake working out how

    Still using Opus 89 Acre Lane as the mailing address but have dissolved the bit with "Community Land"...
    Is that some sort of Freudian slip?

    From Company House
    upload_2017-3-7_22-50-58.png
     
  3. editor

    editor Taffus Maximus

    It comes over so fucking slapdash and dodgy.
     
  4. CH1

    CH1 "Red Guard"(NLYL)

    News of the Brixton Green AGM.

    Resolution Foundation led a discussion about the situation regarding housing and unaffordability. The Resolution Foundation PowerPoint slides can be found here, though without context all I can say is it looks like standard middle of the road analysis. They do at least point out that with the collapse in interest rates, housing has become an income investment (buy-to-let) which is obviously true.

    Sadly we see the departure of Brad Carroll (!?!)

    With the employment of the Transition Director funded by Power to Change, Brad Carroll is stepping down as director of Brixton Green, a role he has carried out on a voluntary basis since 2008.

    Brad said: "I am so proud to have been part of this amazing project. Our community has developed a solution which could provide over 50% affordable homes, an accountable landlord and support for public services. This could change how public land is developed in London. Over 1300 local people are now shareholders, we have a great transition director and an impressive board. I look forward to the day that Lambeth Council sign the lease, and even more, I look forward to seeing this wonderful project built!"

    BG have not yet announced who the "Transition Director" is AFAIK.
     
  5. editor

    editor Taffus Maximus

    The notable part (my bold and caps)

    "Our community has developed a solution which COULD provide over 50% affordable homes, an accountable landlord and support for public services"

    I have zero respect for Brixton Green.
     
  6. Gramsci

    Gramsci Well-Known Member

    I'm not one to support the Council. But this is bollox. The scheme to develop the site as a Council owned one with some attempt at affordable housing has nothing to do with Brixton Green.

    Why the Council let BG get away with this is beyond me.
     
    editor likes this.
  7. CH1

    CH1 "Red Guard"(NLYL)

    Presumably the fact there seems to be zero progress on the site it tied up with this.
     
  8. Gramsci

    Gramsci Well-Known Member

    One thing that could be an issue is the Special Purpose Vehicle. A big reason for doing this is to stop RTB. If there is RTB the financial model will not work.

    Looks now that this government regards that as a loophole exploited by Councils. So will change legislation to allow RTB in SPVs.
     
    brixtonblade likes this.
  9. equationgirl

    equationgirl I can bend, I can break, I can shift, I can shake

    Interesting to see Brad Carroll stepping aside, wonder what pies he's now got his fingers in.
     
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  10. editor

    editor Taffus Maximus

    Brad out, planning permission in.

    2017-03-23_144324.jpg
     
  11. CH1

    CH1 "Red Guard"(NLYL)

    But what does that mean? True the decision notice is issued today - 18 months after the original application.

    But do you think that the Milegate application on 16-20 Somerleyton Road - approved on 5 August 2016 - will not now go ahead? And/or are the parties even now sorting out a "compromise agreement"? I think we should be told.

    NB The Lambeth housing planning application agent has an interesting address:

    London Borough Of Lambeth
    c/o Ms Hilary Satchwell
    19 Maltings Place
    169 Tower Bridge Road
    London
    SE1 3JB
     
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  12. CH1

    CH1 "Red Guard"(NLYL)

    Following my shock discovery this morning that the Angela Davis Trading Estate has now been completely demolished (in about 2 weeks work according to a local man I spoke to) I did some digging around.

    Lambeth apparently considered a report about the Compulsory Purchase of 16-22 Somerleyton Road on 28th October 2016.

    This put forward a revised schedule for the Somerleyton Road Flagship scheme:
    Planning application submitted December 2015
    Planning committee December 2015
    Planning permission issued November 2016
    Start on site June 2017
    CPO confirmed Autumn 2017
    First units completed July 2018
    Project completed December 2019

    I guess the report must've been adopted/approved. There is a confidential part II report dealing with the financial aspects .This is not publicly available - unless we could persuade Wikileaks??

    I guess whoever funded the Milegate planning application may well be collecting an enhanced fee for their trouble getting in an architect. And Lambeth of course losing out. Why did Lambeth not proceed with the CPO as soon as they realised it was needed? One possible explanation lies in section 3 (Finance) on page 7 of the report attached: the land acquisition costs were to be taken in phase II of the project - 2016 or after.

    There is likely to be a pubic enquiry into the CPO,unless agreement is reached - timetable here:
    Timetable.JPG
     
    Last edited: Mar 25, 2017 at 8:30 AM
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