Search

Brent Council plan to sell land to Luxembourg-registered business whose chairman is billionaire Nadhmi Auchi

PUBLISHED: 10:01 16 January 2017 | UPDATED: 10:30 16 January 2017

The council plan to sell off the land where Bridge Park Community Centre is (pic credit: Brent Council)

The council plan to sell off the land where Bridge Park Community Centre is (pic credit: Brent Council)

Archant

Brent Council has been slammed for plans to sell public land to an off-shore company in a regeneration deal.

Cllr John Warren opposes the dealCllr John Warren opposes the deal

Cabinet members are meeting next week to approve a deal to sell land in Stonebridge, including the Bridge Park Community Leisure Centre, to General Mediterranean Holdings SA (GMH), a Luxembourg-registered business whose chairman Nadhmi Auchi is listed by Forbes as the 854th richest person in the world.

Cllr John Warren, leader of Brent Conservatives, hit out at the plans.

He said: “Why is Brent Council getting involved with company business in tax havens when we are in an era where tax havens are deemed to be unacceptable?

“This is not something councils should be doing. Are they going to Luxembourg to do financial checks to see if the guarantee is worth anything? It’s a complete minefield. It’s risky and speculative, a gigantic risk.

The disused Unisys building in StonebridgeThe disused Unisys building in Stonebridge

“Why are we even touching it with a barge pole? It sends a terrible message.”

The council would not say how much the deal is worth and the press and public are banned from the cabinet meeting on January 16 where the plans will be discussed.

In its report to the cabinet, officers recommend going ahead with the deal.

The report says that GMH already owns the Unisys buildings on a parcel of land next to the community centre.

The Conditional Land Sale Agreement (CLSA) will be with a UK-registered subsidiary company still to be formed which has GMH as the parent company and another GMH subsidiary the British Virgin Islands based Harborough Invest Inc as the second guarantor.

A council spokesman said: “The Unisys buildings and the land around it have been an eyesore in Brent for more than two decades.

“If cabinet agree to sell part of the council’s land to the owners of the Unisys buildings this will enable the comprehensive regeneration of the whole area.

“If agreed, this development will create a new state-of-the-art leisure centre, much needed new homes and employment opportunities for Brent residents. This would not be possible through a different developer as General Mediterranean Holdings own the Unisys buildings.”

Mohammed Al-Miqdadi, senior director of international development for GM Holdings, said the land “will be purchased and developed by an English registered company” and that “normal English tax will be payable on the land purchase and any development profit.”

Latest Kilburn & Brent Stories

Yesterday, 18:35

A fine bowling display from Northamptonshire’s seamers forced Middlesex to follow-on at Wantage Road on the second day of their Division Two match.

Yesterday, 16:00

Goals from Cole Brown and Laste Dombaxe saw Greens triumph on Saturday

Yesterday, 17:00

A community walk was held to bring a “happy and positive” experience to people living in the borough.

Yesterday, 14:01

“A prolific moped offender” teen was sentenced to an eight month detention and training order at Willesden Magistrates’ court on Thursday.

Yesterday, 13:09

The B Positive choir will not perform at the LuvGospel festival this Friday after choir member and Wembley campaigner Simonne Kerr was killed at her home in Battersea last week.

Yesterday, 12:22

A disgraced former headteacher and five former members of his staff have been told by the High Court they must pay back money they illegally received while working at Copland School.

Yesterday, 11:02

Brent Council has announced its community safety strategy for the next three years as it looks to reduce crime and increase security in the borough.

Yesterday, 10:17

Plans for new canalside housing in Alperton have been given the green light despite opposition from a neighbouring business.

PROMOTED CONTENT

The Granville has begun taking bookings for workspaces and events ahead of its opening this spring.

Brent Clinical Commissioning Group has announced changes to the community’s cardiology service.

If you have been looking for laser hair removal, beauty salon treatments, or skin care services you may be confused and overwhelmed with so much information out there and so many clinics and salons promising miraculous results.

Newsletter Sign Up

Kilburn Times twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Most read

Show Job Lists

Digital Edition

cover

Enjoy the
Brent & Kilburn Times
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now