Primrose Hill Community Association (PHCA) hopes to buy a long lease on the Community Centre, which would potentially save rent of nearly £1 million over the 25-year period.
In order to achieve this special lease, a payment of £250,000 would have to be made, for which fundraising was expected to start many months ago, as soon as the lease had been signed.
For good reasons, there has been a serious delay to the signing of this lease. To ensure that PHCA did not take on a lease which might prove unexpectedly costly, surveys of the building were made by both the Centre’s surveyor and Camden’s. This was vital, as the Centre must be returned in as good a condition as it was at the start of the lease period. As a result, the Council has carried out some important structural improvements, which will mean that there should be less repair work for PHCA to carry out during the period of the lease.
Additionally, the surveyor recorded that the Centre had suffered from subsidence, and if this recurred it could be very costly for PHCA to underpin and repair the building. Positive discussions have been held to determine the most economical way to get cover against the possibility of such a serious event, and it is currently hoped that the lease will be signed within a few weeks.