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Secret KX sell off
A COUNCIL deal to sell historic industrial buildings to developers Argent Limited is to be hammered out in secret.
The Town Hall will negotiate the future of the Stanley Buildings in King’s Cross behind closed doors on Wednesday night.
While brief details of the deal are included in a council agenda for the public part of the meeting, a second report – known as ‘the pink papers’ – has not been released. It reveals how much Argent Limited will pay the council for the buildings.
Argent is the company which has mapped out the £2-billion redevelopment for the King’s Cross railway lands, a project on hold while objectors fight permission in the High Court.
Council-owned properties are usually sold in open view, often at public auction. There is normally always a public tender.
The report that is in the public domain shows that Argent first approached the council to buy the buildings two years ago.
The report said: “The buildings are listed grade-II and are in a dilapidated condition. The cost of repair and refurbishment to re-provide affordable housing would be very high and would not be cost effective for either the Council or a Housing Association.”
Objectors to the redevelopment said the Stanley Buildings could be repaired and used as housing,.
Ernest James, from the King’s Cross Conservation Area Advisory Committee, said: “The repairs are economically worthwhile.” |
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