Purpose

Approval is sought to complete a Deed of Settlement, Deed of Release and associated land transfer with Hallmark Investment Properties to resolve land ownership and rights issues affecting the Smithgate regeneration scheme. The agreement will remove objections to Land Registry applications, mitigate potential rights of light claims, and support the delivery of future development phases.

Decision

1. Approved entry into the Deed of Settlement between the Council and Hallmark on the terms set out in the report and in the form appended at Appendix 1.
2. Approved entry into the transfer to Hallmark of the parcel of land.
3. Approved entry into all associated and ancillary documentation required to give effect to the settlement, including any applications to HM Land Registry.
4. Authorised the Monitoring Officer (or such other authorised officer) to agree any minor variations to the agreed form of Deed of Settlement and ancillary documents that do not materially alter the commercial position recommended in the report.
5. Authorised the Monitoring Officer (or such other authorised officer), to enter into any and all other legal documents necessary to put the above matters into effect.