Decision

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.

Reasons for the decision

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.

Alternative options considered

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.