Purpose

The Council sold the property pursuant to a transfer dated 3 March 1997.  The Council sold the property, with a 20% deduction of Open Market Value.  It then protected its interest by placing a restriction on the title that stipulates that no sale or lease is to be registered without the prior written consent of the Council.

The restriction can be removed by way of a Deed of Release upon sale.  In return the Council should receive a consideration which is calculated as 20% of the Open Market Value of the property.

The current owner has had the property on the market since May 2025 and has recently accepted an offer.  On 4 December 2025, notice had been served to the Council.

Under the terms of the transfer, the basis of valuation is open market value, disregarding any future permitted alterations made by the current owner.

Decision

That the Council enters into a deed of release with the owner of 21 Brooklands Close, Mossley to release the restrictive covenant regarding written consent to sale and accept the one off capital receipt.

Reasons for the decision

To comply with the terms of the transfer.

Alternative options considered

Reject: If rejected this will be a breach in covenant and the Council would be acting unreasonably.