Construction work for multi-dwelling buildings and individual houses

Description

London Borough of Waltham Forest (the ‘Council’) intends to enter into an agreement for lease to extend the term and geographical scope of existing leases between the Council (as ‘Landlord’) and Selborne 1 Limited, Selborne 2 Limited (both 100 % owned subsidiaries of Capital and Regional Plc). The leases will be executed by 2 other newly established nominee companies (which again, will be both be 100 % owned subsidiaries of Capital and Regional Plc), which shall hold the leases for the beneficial ownership of The Mall Limited Partnership (also, a 100 % owned subsidiary of Capital and Regional Plc) (collectively referred to hereafter as ‘Tenant’) in respect of The Mall shopping centre in Walthamstow, in order that the Tenant may renovate, extend and redevelop the premises. The Tenant (acting by Selborne 1 Limited and Selborne 2 Limited on behalf of the Mall Limited Partnership) holds existing leases over the Mall Shopping Centre. The Agreement for Lease (‘AFL’) shall include Landlord consent for the Tenant to renovate, extend and redevelop the site including the provision of additional commercial and residential units on the site and improvement works to the Town Square and Gardens which will be provided by the Tenant at its cost. Once certain conditions within the AFL have been satisfied, and works have commenced, the leases will be extended by term and geographical scope.