Asset Transfer Requirements

While negotiations continue with the Council on how a transfer of the Carnegie building into community ownership can be achieved, we thought it would be helpful to publish the key requirements that CCT has set out to Lambeth which would, in our view, need to be met to enable the asset transfer application to progress to the next stage.

It is clear that these requirements also align with the priorities of the local community  which has strongly expressed its views.

  1. The structure of the lease arrangements for the Asset Transfer must be acceptable to CCT as advised by its solicitor. The Community Hub project, to be viable, requires transfer of the whole building and grounds apart from the residential flats.
  2. It is essential that the Trust as a charity receives rent for the use of the basement as a gym at an agreed market rate, to ensure both that the Community gets compensation for the occupation of the basement by a commercial organisation and that capital funding grant applications might succeed. An independent valuation which supports the rental figures included in our Business Plan has been completed and is now with our solicitor.
  3. CCT is strongly advised that unless the occupier of the basement (GLL) can pay a market rent to the Trust, the legal structure should ensure that Lambeth Council makes good this deficit. The suggested structure is for Lambeth Council to have an intermediate lease from the Trust whereby CCT is paid this rent by Lambeth Council, and Lambeth enters into a sub-lease with GLL. This income will be invested in the Carnegie Community Hub to secure its future on a sustainable basis.
  4. Supported by our Conservation Accredited advisers, Butler Hegarty Architects, CCT will work to mitigate and improve the negative impact on the ground and first floors created by the design that has already been given Planning Consent. If necessary, new Consents will need to be sought.
  5. The existing Planning Consent does not allow for the self-employed business use which is the other key income stream in our Business Plan so this will need to be re-instated.
  6. The capital funding which Lambeth has allocated to the excavation of the basement and associated works on the other floors will need to be capable of being specified as Match Funding for the Heritage Lottery Application which will be made by CCT.

Carnegie Community Trust CIO