Select Committee on the Crossrail Bill Minutes of Evidence


Examination of Witnesses (Questions 12220 - 12239)

  12220. "If London Underground has elected to commence its works on the site within three years of the practical completion of the ramp, then the Promoter will offer the land back within five years of such election.

  12221. "The land that is offered back will be the greatest interest that can reasonably be re-granted and will include the air rights above and below the ramp.

  12222. "This agreement is capable of assignment by Hammerson and Domaine to another company or joint venture which must be a property development company with experience of undertaking property development, able to demonstrate a successful record of delivering and undertaking commercial development schemes of the size and nature envisaged on the site (including assessment of experience in development in an urban area over, or in conjunction with, railway infrastructure), and able to demonstrate that it will commit the resources, skills and experience in developing over railway infrastructure needed to take the development forward."

  12223. That is the end of the statement. Thank you very much.

  12224. CHAIRMAN: This is going to be in the form of a deed, is it?

  12225. MR WALKER: It will certainly be either a contract or a deed.

  12226. CHAIRMAN: It will have to be a deed, will it not, because, otherwise, it is not going to be able to be assigned?

  12227. MR WALKER: In that case, there will be a deed, yes. Thank you for your assistance!

  12228. CHAIRMAN: Anyway, that is happy news and I am delighted that you have been able to tell us about it.

  12229. MR WALKER: Thank you very much.

  12230. LORD JAMES OF BLACKHEATH: Mr Walker, is there any formula attached to this for fixed price at final transfer?

  12231. MR WALKER: Any formula?

  12232. LORD JAMES OF BLACKHEATH: Yes, is there any formula agreed for the final transfer? Are there any price formulas attached?

  12233. MR WALKER: There is no price settled as yet, no. That will be decided in the absence of agreement by the Lands Tribunal.

  12234. MS LIEVEN: It will all be done, my Lords, under the normal provisions of the Land Compensation Scheme and normal valuation principles. There is nothing special here.

  12235. LORD JAMES OF BLACKHEATH: It sounds good when you say it that quickly!

  12236. MS LIEVEN: Mr Mould will be handling the details of that, not me.

  12237. CHAIRMAN: There was nothing else to be interposed, was there?

  12238. MS LIEVEN: No, my Lord, that was the only thing, I think. Just so that your Lordships know where the day is going, I understand that Land Securities have reached agreement and will not be appearing, and the same for Moor House. All it says is that they are not appearing, but I assume that means that we have reached agreement.

  12239. CHAIRMAN: Well, you are in the process of trying anyway, are you not?

The Petition of Westbourne Park Villas Residents Association



 
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