Purpose

To dispose of the residential freehold ground
rents to Southway Housing Trust who are the leaseholder of the
subject properties (Appendix 1).

Content

To give approval
for the disposal of the residential freehold interests of the
ground rents to Southway Housing Trust who are the leaseholder of
the subject properties, on the basis of the provisionally agreed
heads of terms as set out in paragraph 1.3 of this
report. 

Reasons for the decision

The sale of the Freehold reversions
to Southway Housing Trust would facilitate their request to acquire
the Council’s freehold interests in the residential
properties and will provide a capital receipt to the
Authority.

Alternative options considered

Do nothing and decline the request
from the leaseholder to acquire the Freehold Reversions held by the
Council.