Will also offer Occupation Licences to small groups and TRAs taking on small assets. No Freehold Key Lease Period For Meanwhile CATs of ‘Leasehold not freehold ‘The Council will Occupation Licences (up Negotiable according Terms short leases of up to 3 – generally on a full generally pursue to 3 years) for small to projected use. But years. Major CATS long repairing lease and up leasehold community groups and for any kind of lease up to 99 years. to 25yrs (negotiable)’ arrangements with the small assets e.g. TRAs. developments where term being set after capital will be Council will discuss carefully considering Short Leases (3 to 5 invested by lessee in longer leases where the the needs of the years) where the asset then long business case can VCOSE, the condition appropriate e.g. groups leases most common. demonstrate of the asset and the taking on asset for first need/viability. requirements of time. potential funders or lenders. As a guide: In limited circumstances on a case-by-case basis A lease for a longer leases where this minimum of 10 unlocks significant years. funding opportunities. A lease of up to 35 years - a lease Recommendation that longer than 35 years consideration of may be appropriate Community Matters’ if a business case model lease for use in demonstrates CAT as basis for Tower special Hamlets wide model circumstances or lease (see attached TH requirements from supporting documents). funders / lenders. Freehold. The freehold transfer will only be
Will also offer Occupation Licences to small groups and TRAs taking on small assets. No Freehold Key Lease Terms Period For Meanwhile CATs of short leases of up to 3 years. Major CATS long lease up to 99 years. ‘Leasehold not freehold – generally on a full repairing lease and up to 25yrs (negotiable)’ Council will discuss longer leases where the business case can demonstrate need/viability. ‘The Council will generally pursue leasehold arrangements with the term being set after carefully considering the needs of the VCOSE, the condition of the asset and the requirements of potential funders or lenders. As a guide: A lease for a minimum of 10 years. A lease of up to 35 years - a lease longer than 35 years may be appropriate if a business case demonstrates special circumstances or requirements from funders / lenders. Freehold. The freehold transfer will only be Occupation Licences (up to 3 years) for small community groups and small assets e.g. TRAs. Short Leases (3 to 5 years) where appropriate e.g. groups taking on asset for first time. In limited circumstances on a case-by-case basis longer leases where this unlocks significant funding opportunities. Recommendation that consideration of Community Matters’ model lease for use in CAT as basis for Tower Hamlets wide model lease (see attached TH supporting documents). Negotiable according to projected use. But for any kind of developments where capital will be invested by lessee in the asset then long leases most common.
Final%20TH%20Com%20Buildings%20Report%2021.7.16%20%282%29.docx