Issue - meetings

This report sets out details of an application to lift the restrictive covenant of an office suite on the Pioneer Business Park for low-cost residential development.  The application is in accordance with the Asset Management Policy on lifting restrictive covenants on Clifton Moor and a capital receipt has been agreed in accordance with the policy.

Resolved:  That the request to remove the restrictive covenant be

                   approved in return for the capital sum of £122,250.

Reason:     To enable the provision of apartments at reasonable cost in an area of surplus office accommodation.

The Executive Leader considered a report that set out details of an application to lift the restrictive covenant of an office site on the Pioneer Business Park for low-cost residential development.  The application was in accordance with the Asset Management Policy on lifting restrictive covenants on Clifton Moor and a capital receipt had been agreed in accordance with the policy.

The Executive Leader noted that two applications for the removal of restrictive covenants at the Pioneer Business Park had previously been approved and that this application would complement the existing development. 

The Executive Leader stated that he approved the removal of the restrictive covenant and supported the innovative approach that was being taken.  

Resolved:  That the request to remove the restrictive covenant be

                   approved in return for the capital sum of £122,250.

Reason:     To enable the provision of apartments at reasonable cost in an area of surplus office accommodation.