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Thanks for your question.
In reality, those with the benefit of the covenant are pretty unlikely to seek to enforce the covenant for the reasons you state.
You can obtain a restrictive covenant indemnity policy to cover against the costs of any enforcement action being taken. If you goodle "restrictive covenant indemnity policy providers" and there will be a number of insurance companies offering the service. You will need to give them details of the property, the covenant, you efforts at obtaining a release from the covenantors and the nature of the breach. It will not be that expensive (Around £100.00 approx).
You could apply to the Lands Tribunal to have the covenant modified or removed, but this is a lengthy and expensive process. You may take the view that this is overkill in light of the age of the covenant and low probability that enforcement action will be taken.
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Thank you, XXXXX XXXXX information on the title deeds I would have assumed that nobody would be alive or indeed be in a position to know what was put on the title apart from the solicitors. I think we are prepared to accept the purchase and carry on with the mechanical garage. May try and get a couple of thousand off though, just for the fun of it. We will investigate an insurance. Thanks.
Frankly, I wouldn't have thought you'd have much of chance reducing the price (try it though). You will be much more likely to get them to pay for the indemnity policy though.
Good luck with it and thank you for the kind accept.