That delegated authority be given to the Director of Finance, in consultation with the Cabinet Member for Place Development and Economic Growth, to negotiate and agree the detailed terms, including the market rent, of the first lease granted for each of the four units at Unit D, Westfield Business Park, Long Road, Paignton.

The market rent for each individual unit was assessed by a RICS surveyor as being in excess of £50,000 per annum and, in accordance with the Council's Constitution, the granting of the leases required Cabinet approval. Delegating authority to the Director of Finance would enable lease terms to be agreed efficiently, avoiding delays in the letting process and the receipt of rental income by the Council.

The option of disposing of the units on a freehold basis was discounted as the Council wished to retain ownership and control of the premises, ensuring that they continued to support the development of the high-tech sector and local employment opportunities.

The option of not letting the units on a commercial basis was also discouted as this would increase void costs, delay revenue generation and reduce the overall financial benefits arising from the Council's investment in the property.

This decision may be implemented on 28 September 2026 unless the call-in procedure is triggered (as set out in the Standing Orders in relation to Overview and Scrutiny).

Cabinet considered a report seeking authority to enable the letting of four newly created commercial units at Unit D, Westfield Business Park, Long Road, Paignton. The Council purchased the property in April 2026 and invested in significant refurbishment works to create two laboratory units and two office units targeted specifically at high-tech businesses.

The development formed part of the Council's longer-term strategy to support growth within Torbay's high-tech sector, building on links with South Devon College and businesses associated with EPIC. The units were intended to provide accommodation for expanding businesses, increase employment opportunities and attract investment into Torbay.

Cabinet noted that delegating authority to the Director of Finance would enable commercially advantageous lease agreements to be progressed promptly, helping to minimise void periods and reduce the costs associated with vacant property holdings.

At the meeting Councillor Chris Lewis proposed and Councillor Bye seconded a motion that was agreed unanimously by the Cabinet, as set out above.

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