Decision Maker: Chief Executive
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decision:
That the lease held by
Marina Development Limited for Torquay Pavilion be surrendered.
Reasons for the decision:
Torquay Pavilion had
been allocated £2 million towards its restoration, from the
Torquay Town Deal. This funding was intended to support the
ultimate restoration of the Pavilion to allow the building to be
returned to an active life contributing to the vibrancy of the
Torquay harbour area in line with the objectives of the Torquay
Town Deal.
Alternative options considered:
There were no other
options considered, as the decision made by Cabinet set out the
course of action to be taken.
Implementation:
The decision will be
implemented immediately.
Information:
On 13 February 2024,
the Cabinet made the following decision:
- To delegate to the
Director of Pride in Place, in consultation with the Cabinet Member
for Place Development and Economic Growth and the Director of
Finance, agreement of the final heads of terms for the surrender of
the lease in respect of the Pavilion;
- That the Director of
Pride Place seek expressions of interest from investors and
occupiers, to work with the Council for uses aligned to the Torquay
Town Investment Plan 2020 with this process to begin before the end
of February 2024; and
- That the Director of
Pride in Place prepares a funding strategy for the restoration of
the Pavilion.
Since the Cabinet
meeting, negotiations have been ongoing with Marina Development
Limited to secure the surrender of the lease. Acceptable terms have been reached and the lease
has been surrendered, thereby giving affect to 1. above.
Interests and Nature of Interests Declared:
Publication date: 29/10/2024
Date of decision: 28/10/2024
