Utilising grant funding from the Torquay Town Deal Fund, the Council enter into a loan agreement with KAH Holdings Limited, for the purchase of 3 flats on The Terrace, forming part of The Strand Land Assembly.

To give effect to the decision made by the Council and to support the required repurposing of the land and buildings to provide a catalytic regeneration to the Harbour area of Torquay Town Centre.

The option to acquire the 3 flats on The Terrace, Torquay was necessary for the redevelopment of The Strand.  Not pursuing acquisition, could result in non-viability and hence non-delivery of the preferred scheme.  Therefore, other options were discounted.

This decision will be implemented immediately.

On 5 December 2024, Council delegated authority to the Chief Finance Officer, in consultation with the Cabinet Member for Housing and Finance, to approve the acquisition of land and rights at properties fronting The Strand and The Terrace, by agreement or compulsory purchase. The Director of Finance was also authorised to approve related expenditure and has decided, using Torquay Town Deal grant funding, that the Council will enter a loan agreement with its wholly owned company, KAH Holdings Limited, to acquire three flats on The Terrace, Torquay.

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