Decision details

To authorise the instructing of legal services to progress and agree the part release of a restriction preventing the sale of the freehold or the grant of a lease of 25 years or more of the Property, at a premium, unless the purchaser enters into a covenant with the Council, to fulfil the obligations set out in the Third Schedule of the original Transfer between the Council and Capital and Regional Investments Limited.

The Council transferred the freehold interest of the Property, edged blue and red on the plan attached in Appendix 1, to Capital and Regional Investments Limited (the Transferee) by a transfer agreement dated 30th August 1996 (the Transfer). The freehold interest is held by the Transferee under the title number EGL350011.

Schedule 3 Clause 2.1 of the Transfer states that the Transferee shall “at its own expense and from time to time as and when required by the Vendor to take all steps as shall be necessary to join with and concur in the dedication to the Vendor as highway authority of the paths and walkways situated on the areas shown for identification purposes only coloured brown on plan A…”.

Plan A refers to a plan appended to the Transfer and is attached in Appendix 1.

The Council's interest in this provision is protected by a restriction against the Transferee’s freehold title.

Since the date of the Transfer, the adoption of parts of the Highway Areas has taken place but there are still small parts of the Highway Areas that are yet to be adopted as required by the terms of the Transfer.

The Transferee has requested that the Council release the restriction on the land edged red on the plan in Appendix 2, which is the site of a former petrol station.

The release is requested in order to enable the derelict petrol station site to be regenerated in line with the Council’s aspiration as set out in the site allocation document and the Wood Green AAP.

The proposal to develop the land is supported by the Council in its capacity as the Local Planning Authority as the proposal is essential to the Council’s 5-year Housing Land Supply.

The Council’s Highways team are in advance discussions with the Transferee in relation to the adoption of the Highway Areas yet to be adopted and they consider that the risk of not completing the dedication following the release of the restriction on a section of the site is low.

This delegated approval is therefore being sought to allow Strategic Property Unit to instruct the Council’s legal team to release the restriction on the former petrol station site. The reminder of the Property will still be covered by the restriction.

The possibility of not releasing the restriction, as requested by the Transferee has been considered and only releasing the restriction when the S.38 agreement has been fully completed, to do this will put the sale of the site at risk, and delay the site of the former petrol station coming forward for redevelopment.