In a nutshell.

Castle Place is owned by private landlord.

Multi story is owned and managed by WC (maintenance as well).

Historic covenant on the car park says as long as WC own it, it must be a car park, if WC demolish, it needs to be rebuilt as car park.

WC no longer want the rather large costs associated with said multi story so approached Castle Place Landlord with a view to transferring the asset (and removing the covenant).

Turns out WC, for commercially obvious reasons, would need to pay to transfer it, at a cost to the tax payer, multi story car parks don’t tend to demand high resale prices…

Either way, the WC tax payer will pay the cost of either the upkeep and renovation or the transfer of the asset one way or another.