Issue details

Consent to a Transfer of Positive Covenants (via a Deed of Covenant) to a successor purchaser following the sale of the property affected by the Covenants.

1. The covenants imposed on the new owner are in substitution for the covenants imposed on the original purchasers of the affected property who are released from those covenants by virtue of their sale of the property to the new owners.
2. The new Deed of Covenant binds the new owners of the property to perform the obligations contained in those covenants as far as they remain capable of being performed.
3. Provisional agreement, subject to formal approval, has been reached with the new owners for a new Deed of Covenant to be entered into.

Decision type: Non-key

Decision status: Recommendations Approved

Notice of proposed decision first published: 23/11/2023

Decision due: 17 November 2023 by Strategic Assets Delivery Director

Contact: Sarah Jowett, Strategic Assets Delivery Director Email: Tel: 01432 383302.