Land held within the public sector can be subject to change by way of changes in legislation, The Academies Act 2010 is a good example of this. Where a school successfully applies to become an academy and thereby will become independent from the control of the Local Education Authority, it is entitled to a long leasehold interest in the operational school site.
Carter Jonas has assisted Local Authorities in preparing for statutory transfers by identifying land and property matters which will affect a statutory transfer. Where land is to be transferred freehold and where Local Authorities or other third parties require to retain occupation of any part of that site, new leases have been negotiated and agreed. Additionally other matters including access licenses have been arranged.
In certain circumstances land is held leasehold by Local Authorities. Separate negotiations are therefore required with the freeholder of the land to agree any variation to the existing lease which would allow the Local Authority to assign or underlet its interest, in order to fulfill its obligation of a statutory transfer.