That the property referred to as scheme 2, in Cabinet Minute 91/02/25 be acquired.

To give effect to the decision of the Cabinet held on 18 February 2025 and in doing so, deliver a Scheme which would result in an increase in supply of affordable housing with an additional benefit of preventing the site entering a state of dereliction, as well as reducing the likelihood of long-term anti-social behaviour.

No other options were considered as acquisition of Scheme 2 was within the parameters set out within the Cabinet’s decision.

The Cabinet’s decision and report considered by them can be found online at:  https://www.torbay.gov.uk/DemocraticServices/ieListDocuments.aspx?CId=741&MId=24483&Ver=4

This decision will be implemented immediately.

The Cabinet on the 18 February 2025, granted the Director Finance, in consultation with the Director of Pride in Place and the Cabinet Member for Housing and Finance, delegated authority to agree suitable terms to acquire Scheme 2, for a price not exceeding the value set out in Exempt Appendices 1 and 3 to the submitted Cabinet report (subject to the satisfactory completion of all necessary due diligence).

In accordance with the Cabinet’s decision, suitable terms and a price not exceeding the value set out in Exempt Appendices 1 and 3 to the submitted Cabinet have been agreed, therefore the property referred to as Scheme 2 has been acquired.

None