Devon council to announce £100m property deal

A landmark property deal worth an estimated £100m is set to be announced by a South West council.

Torbay Council announced that the “monumental agreement” comes as a direct result of it’s participation in the UK’s Real Estate Investment & Infrastructure Forum (UKREiiF) annual event in Leeds.

Alan Denby, director of Pride in Place at Torbay Council revealed the news without revealing details of the deal.

He said: “We’re on the brink of recommending a preferred value partner to collaborate with us on four key sites, a testament to the opportunities that arise from being in the room when significant investments are being discussed. UKREiiF is an event of paramount importance, and we wholeheartedly endorse participation.”

The Devon council is undergoing a transformative phase with multi-million projects underway across Torbay, Paignton and Brixham. This investment is aimed at rejuvenating the towns, bolstering the local economy and enhancing infrastructure.

Mr Denby added: “We’ve worked with UKREiiF and the team behind it for the first time this year. Being present in Leeds opened doors for us, allowing us to engage in pivotal conversations with investors, developers, and occupiers. These are conversations we wouldn’t have had the chance to partake in without being there in person.”

UKREiiF director Matt Christie said: “We are thrilled to have played a part in this monumental announcement for Torbay Council.

“They were an early adopter of UKREiiF and have reaped the rewards of not only attending but have been a valued partner that fully embraces the opportunities that UKREiiF offers everyone: wall-to-wall networking with thousands of organisations that genuinely want to invest millions.”