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The Council granted a lease of some land at
Northside
Court on 21 September 2004 to a Housing Association to
construct a development of affordable housing. Some of
those properties were leased on shared ownership terms.
The lessee’s of 4 Northside Court have staircased to
100% leasehold interest and now have a right under the
Leasehold Reform Act 1967 to purchase the freehold.
The Council and the current Registered leasehold owner
Vivid Housing Ltd, are entering into the transfer,
whereupon both the Headlease and underlease will merge
into the freehold being transferred. The Council and the
Housing Association will be receiving a premium from the
sale.