Torbay Council has announced a proposal to support community-led regeneration by offering the Old Monastery, Berry Drive, Paignton, for acquisition by residents at a nominal sum of £1.

The initiative forms part of our Asset Management Strategy, which provides an overview of the Council’s land and property estate and sets out priorities for managing and developing assets. Surplus assets which are those no longer required for commercial or operational purposes, are identified for disposal which enables reinvestment of capital across the estate.

The Old Monastery was first approved for disposal by Cabinet in 2019, with an invitation for bids from community groups. At that time, no proposals were received. More recently, the our Estates Team have reviewed under-performing assets, including the Old Monastery, for potential disposal.

Following circulation of this schedule, strong representation has been received from the local community expressing significant interest in acquiring the property for community-based use. In response, Cabinet is set to agree to provide the community with the opportunity to acquire the Old Monastery for £1, subject to key conditions:

• Legal entity formation: The community must establish a legal entity to transact with the Council.
• Time-limited option: The acquisition opportunity will remain open until 31 March 2026.
• Restrictive covenant: The property’s Land Registry Title will be limited to community-based operations.
• Overage clause: Should the property’s use change in future, any uplift in value will be returned to the Council.

This proposal provides the community with every opportunity to bring the Old Monastery back into beneficial use, while relieving us of future maintenance liabilities.

Councillor Jackie Thomas (Cabinet Member for Events, Tourism, Culture and Corporate Services) said:

"By offering the Old Monastery to the community for £1, we are creating a real opportunity for residents to take ownership of a historic site and bring it back into beneficial use. This proposal balances our duty to manage Council assets responsibly with our ambition to empower local people, ensuring the building remains dedicated to community purposes while protecting the public purse through safeguards such as a restrictive covenant and overage clause.

I am encouraged by the enthusiasm already shown and look forward to seeing how the community can transform the Old Monastery into a vibrant hub that serves local needs."

We are inviting local residents and stakeholders to come together and form a community group that can act as the formal point of contact for discussions around the future of the Old Monastery. Establishing such a group will enable our Estates Team to begin meaningful engagement, arrange further access to the building as required, and progress conversations about the transfer arrangements. This is a vital step in ensuring the property can be brought back into beneficial use for the community.