MD1435 Blackwall Reach- Block Lease of Phase 1A Substation and Agreement to Surrender

The Blackwall Reach development site (and parcels of land therein) and the related Principal Development Agreement (PDA) transferred from HCA to GLA Land and Property Limited (GLAP) in April 2012 under the Localism Act 2011.

To facilitate the implementation of the development pursuant to the PDA, there is a pressing need for power on at the substation within Phase 1A of the site and accordingly , this report requests approval for GLA Land and Property (GLAP) to enter into;

(1) an accelerated Lease in respect of a substation within Phase 1A of the Blackwall Reach development site only in the form of the Block Lease anticipated by the Principal Development Agreement with appropriate modifications and

(2) an Agreement to Surrender to provide for the surrender of the Lease of the substation on completion of the full Block Lease or Phase Lease.