Decision

1. That, in accordance with Standing Order D11, in order for the site to be brought back into active use at the earliest opportunity, it is necessary for the decision, to be implemented immediately.  Greendale have indicated its intention to reopen and operate key elements of the site in time for the forthcoming summer season.  Any delay arising from the call?in process would significantly prejudice this timescale and risk the loss of economic, tourism and community benefits associated with the summer period.  In addition the site has been closed since December 2025 and is currently incurring ongoing holding, security and maintenance costs for the Council.  Delaying implementation of the decision would prolong these financial liabilities and defer the receipt of a capital sum above market value, as well as postponing wider regeneration benefits.

Accordingly, the Cabinet’s decision is deemed to be urgent.  Therefore, Cabinet determines that Call-in shall be waived as any delay likely to be caused by the call-in process would prejudice the public’s and the Council’s interest.  The Overview and Scrutiny Co-ordinator was consulted on 28 May 2026; and

1. that the Director of Finance in consultation with Cabinet Member for Place Development and Economic Growth be authorised to dispose of the Council’s freehold interest of Occombe Farm and land lying north of Preston Down Road Paignton, (as set out in Appendix 1 to the submitted report), to Greendale SPV 1 Limited for a sum in excess of Market Value (as set out in exempt Appendix 2 to the submitted report) and agree and finalise the detailed transfer process and terms based on Estates and Legal advice, which will include overage provisions.

Reasons for the decision

The disposal of this asset to Greendale SPV 1 Limited will generate a significant capital receipt, above Market Value, enabling the Council to support priority medium-term projects.

The proposal will also support the growth of a Devon-based business, contributing to local employment and economic activity.

Disposal will reduce the Council’s ongoing holding, maintenance, and liability costs associated with the site, including relieving SWISCo of the burden of maintaining farmland and a wooded area subject to Special Site of Scientific Interest (SSSI) designation.

Furthermore, it will bring forward development of a site that has remained closed since December 2025 following the demise of Torbay Coast and Countryside Trust (The Trust), ensuring the asset is returned to productive use.

Alternative options considered

SWISCo approached the Council with an interest in acquiring part of the site for use as a depot to support its fleet and operational activities within this area of Torbay.  However, this proposal did not extend to the entirety of the site, leaving the Council with the need to dispose of the remaining land separately on a leasehold basis.  Fragmenting the site in this way was likely to reduce its overall capital value and market attractiveness.

Retaining the asset in its vacant condition resulted in ongoing and potentially increasing holding costs and liabilities for the Council, without generating any income or wider benefit.

Marketing the site on the open market and inviting alternative offers, including speculative or conditional bids, was considered.  However, this approach introduced a greater degree of risk, delay, and uncertainty in securing a disposal, with no guarantee of achieving a comparable outcome.

Retaining the freehold and marketing the site on a leasehold basis was also considered.  While this option could have generated a revenue stream, it was considered unlikely that a single operator would take a lease of the site in its entirety.  Any prospective tenant would also have been likely to require significant lease incentives from the Council.  More likely, the site could have become multi-let, resulting in a management-intensive arrangement.  Under this option, the Council would have retained responsibility for ongoing holding costs, site management, boundary security, and the risks associated with vacant units, creating an additional and continuing financial burden.