Universities and College Estates Act 1925

2 Powers of sale and exchange

(1) A university or college—

(i) May sell any land belonging to the university or college, or any easement, right or privilege of any kind, over or in relation to such land; and

(ii) In the case of a manor belonging to the university or college, may sell the seignory of any freehold land within the manor, with or without any exception or reservation of all or any mines or minerals, or of any rights or powers relative to mining purposes, so as in every such case to effect an extinguishment of the manorial incidents; and

(iii) May make an exchange of any land belonging to the university or college, or of any easement, right, or privilege of any kind, whether or not newly created, over or in relation to such land, for other land, or for any easement, right or privilege of any kind, whether or not newly created, over or in relation to other land, including an exchange in consideration of money paid for equality of exchange.

(2) A sale or exchange under this section or any other provision of this Act shall not be made except with the consent of the Minister.

(3) On a sale or exchange by a university or college under the powers of this Act, any restriction or reservation with respect to building on or other user of land, or with respect to mines and minerals, or with respect to or for the purpose of the more beneficial working thereof, or with respect to any other thing, may be imposed or reserved and made binding, as far as the law permits, by covenant, condition or otherwise, on the university or college and land belonging to it, or on the other party and any land sold or given in exchange to him.