Issue - meetings

This report sets out details of a proposal to release of a restrictive covenant which applies to the site of the working mans’ club known as the Tramways Club on Mill Street, York and which is identified on the plan in Appendix A.

The Executive Leader considered a report that detailed a proposal to release a restrictive covenant which applied to the site of the working mans’ club known as Tramways Club on Mill Street, York. This was identified on the plan in Appendix A.

Subject to the restrictive covenant being released, a developer had agreed to purchase the site from Tramways Club.  The developer was considering redeveloping the site for either a residential sale or senior living/ care scheme which would be subject to obtaining planning permission.  A financial formula had been agreed with the developer whereby the Council (as the party with the benefit of/ right to enforce the restrictive covenant) would share in any uplift in value the site on realisation of its completion after deducting the new scheme’s development costs.

Resolved: That agreement be given to release the restrictive covenant  on the site of the Tramways Club, Mill Street to enable the site to be developed for either a residential for sale scheme or for senior living/care accommodation, subject to obtaining planning permission.

Reason:     To enable the sale of the site of the Club to proceed as it has no viable future, whilst providing an opportunity for the site to be regenerated in line with the Castle Gateway vision and afford the Council with a potential future capital receipt.

The Executive Leader considered a report that detailed a proposal to release a restrictive covenant which applied to the site of the working mans’ club known as Tramways Club on Mill Street, York. This was identified on the plan in Appendix A.

Subject to the restrictive covenant being released, a developer had agreed to purchase the site from Tramways Club.  The developer was considering redeveloping the site for either a residential sale or senior living/ care scheme which would be subject to obtaining planning permission.  A financial formula had been agreed with the developer whereby the Council (as the party with the benefit of/ right to enforce the restrictive covenant) would share in any uplift in value the site on realisation of its completion after deducting the new scheme’s development costs.

Resolved: That agreement be given to release the restrictive covenant  on the site of the Tramways Club, Mill Street to enable the site to be developed for either a residential for sale scheme or for senior living/care accommodation, subject to obtaining planning permission.

Reason:     To enable the sale of the site of the Club to proceed as it has no viable future, whilst providing an opportunity for the site to be regenerated in line with the Castle Gateway vision and afford the Council with a potential future capital receipt.