Issue - decisions

Release of Restrictive Covenant

 

 

17/01/2013 - Release of Restrictive Covenan-Land formerly owned at Leckhampton Industrial Estate, 205 Leckhampton Road, Cheltenham

RESOLVED THAT

 

  1. a modification agreement be agreed which allows the council to benefit from any uplift in value, pertaining to a change of use from B2 General Industrial, in proportion to the area of land previously sold by the council (0.18ha).
  2. the Head of Property and Asset Management be authorised, in consultation with the Cabinet Member Finance, to negotiate and conclude an Agreement with the owner of Leckhampton Industrial Estate granting that owner the right, within a period of  5 years from the date of the Agreement, to call for the variation of the Covenant restricting the use of the area of land described in the report upon payment of such sum determined by the Head of Property and Asset Management as being the market value for such variation.