Decision Maker: Joint Strategic Director - Community and Wellbeing
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
The Council granted a lease of some land at
Sycamore Drive on 14 May 2002 to a Housing Association to construct
a development of affordable housing. Some of those properties were
leased on shared ownership terms. The lessee’s of 26 Sycamore
Drive have staircased to 100% leasehold interest and now have a
right under the Leasehold Reform Act 1967 to purchase the freehold.
The Council and the current Registered leasehold owner Vivid
Housing Ltd, are entering into the transfer, whereupon both the
Headlease and underlease will merge into the freehold being
transferred. Both the Council and Vivid will receiving a
premium.
The lessee of the property has a statutory
right to purchase the freehold.
None
Publication date: 12/12/2022
Date of decision: 12/12/2022