Latest News - October 2009

Following on from the granting of planning consent at the end of last year, Cathedral has been working with the Officers of Greenwich Council to agree the necessary legal documentation relating to the scheme.

In March 2009, the S.106 legal agreement was entered into which is a binding agreement relating to the various financial contributions that the developer must pay and the commitment to provide 22 'affordable homes' as part of the scheme. The signing of this agreement enabled the Council to formally issue the Planning Consent and Listed Building Consent.

Separate discussions have also taken place regarding the freehold ownership of the site which is currently held by the Council but which needs to be transferred to the developer in order to raise the necessary development finance to undertake the multi-million pound project.

These discussions have taken much longer than anticipated but we are pleased to confirm that contracts have now been exchanged. This has always been a critical milestone for the project.

During this very busy last nine months, terms have also been agreed with Moat Housing Association for the 22 affordable units; detailed tenders have been received from four building contactors (all of whom are in a position to start on site at very short notice) and terms have been agreed with a retailer on one of the proposed units.