That, following satisfactory completion of legal due diligence and having secured an appropriate allocation of grant funding from Homes England, the site as set out in Exempt Appendix 1 be acquired; and funded from a combination of Homes England grant, other subsidy and up to £1,334,425 which forms part of the £20m prudential borrowing agreed by Council on 16 May 2025.

Completion of the legal due diligence process has concluded that the Council’s acquisition of the property would represent good and marketable Title and as such, the scheme represents a good investment opportunity to reduce our revenue expenditure on Temporary Accommodation. 

The project could be put on hold or cancelled and the grant funding allocated could be returned to central government.

This decision will be implemented immediately.

The Cabinet on 19 August 2025, gave Officers delegated authority to acquire 14 homes (and associated freehold) at a site in Torquay.  Following completion of the legal due diligence process, finalised terms and having successfully secured an appropriate allocation of grant from Homes England, the Council will acquire 14 homes for social housing at a site in Torquay.

None.