That the Leader of the Council recommends to Council that:

The land edged red in Appendix 1 of the submitted report, be transferred to TorVista Homes for the delivery of housing at nil value in return for nomination rights under section 25 of the Local Government Act 1988.  In the event that the delivery of housing development is undeliverable or not viable due to planning constraints then the land would then be disposed of at full open market value with the Council retaining all receipts generated.

Whilst the condition of both buildings is fair, the buildings are now noticeably deteriorating since being left vacant and not in use.  As both buildings remain in the ownership of the Council ongoing maintenance and repair liability remains with the Council.  The Council has no operational requirement for the property.

The following options were set out in the submitted report:

·         Retain the properties and attempt to re-let within the Council’s commercial let estate, this option ws discounted as the properties were not suitable for alternative use across the Council;

·         Sell the assets either independently or collectively as soon as possible at full market value; or

·         Transfer both assets to TorVista Homes Ltd.

This decision will come into force and may be implemented on 1 April 2020 unless the call-in procedure is triggered (as set out in the Standing Orders in relation to Overview and Scrutiny).

The properties known as Scotleigh House, 51 Totnes Road and Halswell House, 53 Totnes Road, Paignton have both become vacant in the last six months.  Both assets are void and considered surplus to the Council’s operational requirement.  In line with policy and to reduce operational and holding costs the Council should now look to dispose of both assets thereby removing any ongoing liabilities.  The Council has two options, to dispose of the assets via the open market seeking to maximise the capital receipt or by way of transfer to TorVista Homes Ltd at a nil receipt for the delivery of affordable housing which the Council would receive nomination rights on 100% of the properties in perpetuity.

None.