Purpose

The report seeks approval to vary a covenant in favour of the Council on part of the land at Furlong Close, Devizes on a conditional basis. No monetary value will be paid to Wiltshire Council, meaning this is a disposal at less than best consideration. Instead, socio-economic wellbeing powers are being used to forgo the capital receipt.

Decision

Following consultation with officers I give notice that I intend to make the decision set out in the attached report  to vary to covenant and delegate authority to the Corporate Director, Place, to finalise the terms.

If you would like to make any representations to me on this issue please do so by 13 October 2026.

Reasons for the decision

By releasing the covenant on part of the site allows SSH Furlong Ltd (SSH) to generate a capital receipt (subject to necessary approvals) to meet their financial obligations for Furlong Close to ensure the building remain in good condition for the residents.

Alternative options considered

The other options include either extraction of capital value for the release of the covenant or not approving variation, both would result in no funds being generated for reinvestment in the facility.