The Barham Park Trust Committee met on Monday 24 February 2025 and approved the modification of restrictive covenants at 776 and 778 Harrow Road, which will generate £200,000 for the Trust. The committee also approved an increase in funding for Year 1 repair works and authorised negotiations for a lease re-gear.

Operational Property Matters and 776 and 778 Harrow Road Restrictive Covenant(s) Update

The committee approved the modification of restrictive covenants at 776 and 778 Harrow Road, Wembley, HA0 2HE. This decision is expected to generate a significant one-off financial benefit of £200,000 for the Trust, which will be allocated to its restricted funds. This sum represents the assessed market value of the modification, negotiated with the current owner, Zenaster Properties Ltd. The modification will allow Zenaster to proceed with their previously granted planning permission¹ to demolish the existing dwellings and construct four new three-storey houses. The funds generated will support the long-term benefits and ongoing maintenance of the Barham Park Estate.

The committee also approved an increase in the allocated funding for Year 1 repair works from £268,950 to £352,221 to account for additional VAT costs. This increase will be funded by utilising restricted funds, subject to Charity Commission approval.

Furthermore, the committee authorised the Director of Property and Assets to negotiate and finalise a lease re-gear for Unit 6 with ACAVA. This will remove Unit 6 from ACAVA's demise, as it is surplus to their requirements, allowing the Trust to re-let the unit on the best terms possible, aligning with its charitable objectives.

Updates were also provided on other operational matters, including progress with lease renewals and negotiations for Units 1 & 2 and Unit 7. Proposals are also being developed with the Council to enable the surrender of the lease on Unit 8 by the end of March 2025, allowing the Trust to re-market the unit.

In terms of the Trust's financial position, current cash reserves stand at £638,206. However, the financial position remains challenging due to the ongoing cost of essential maintenance work identified for the Estate. Efforts are continuing to clear outstanding rent arrears, totalling £34,000, with most expected to be cleared by the end of March 2025. Rent reviews have been completed, resulting in an annual income uplift of £15,671.

Regarding Parks & Estate Management, the committee noted ongoing work to address drainage issues in the events field and the outcome of a recent Barham Park Tree Survey. The survey identified essential tree maintenance work required in high-traffic areas. To ensure timely completion of these safety and maintenance works, unrestricted funds will be used to cover the identified cost of £18,055, given current pressures on restricted funds pending the receipt of income from the restrictive covenant modification.

Progress is also being made in developing formal and informal consultation plans to inform future strategic estate redevelopment proposals and a business case for expanding the estate's permissible use, prior to submission to the Charity Commission.

The committee noted a written representation received from a local resident regarding the proposed modification of the restrictive covenant and operational property issues.

The decisions made were:

• Approve the modification of the restrictive covenants at 776 and 778 Harrow Road, and delegate authority to the Director of Property and Assets to execute a deed with Zenaster Properties Ltd for £200,000, subject to Charity Commission consideration and authorisation.
• Approve an increase in the allocated funding for Year 1 works to £352,221 to account for VAT and seek Charity Commission approval to utilise restricted funds.
• Authorise the Director of Property and Assets to negotiate and finalise the lease re-gear for Unit 6 with ACAVA.