1.    That the agreed covenant release and transfer, at the premium/price on the terms set out in the officer’s report, be approved.

2.    That the Property Procurement and Contracts Law Manager be granted delegated authority to agree any late amendments to the transaction.

Reason for recommendations

1.    The small area of land which was intended to be included in the original land sale poses a maintenance liability and nuisance to the Council. It’s transfer together with the release of the covenant on part of the land sold in 2015 will alleviate antisocial activities associated with the site and increase the supply of new housing.  

2.    The proposed covenant release and land transfer will realise a capital receipt together with payment of the Council’s professional fees. The receipt will be credited to the General Fund Account.