Decision details

On 23 October 2025 Full Council approved the Sherborne House car park project for the design and construction of 23 one and two-bedroom social rented flats, associated infrastructure and external works. Full Council further approved the update of this project within the Capital Programme and accordingly to increase the Capital Programme and allocation of expenditure for the project to £7,243,317.

The Director of Customer Experience and Transformation was authorised, in consultation with the Executive Member for Housing and Homelessness and the Chief Finance Officer, and following the determination of the grant applications set out in the Full Council report, to enter into the contract for the development with Nevada Construction provided that the project achieves a minimum 1% return on the Council borrowing.

The Director of Customer Experience and Transformation (or delegate) agrees to enter into the contract for the Sherborne House car park project with Nevada Construction for the contract sum set out in Exempt Appendix 1, and that the Head of Housing and the Housing Enabling and Development Manager are authorised to sign the building contract on behalf of the Council.

The Sherborne House car park development is a flagship scheme for the Council and a key project within the One Teignbridge Strategy. It will deliver 23 high quality and energy efficient social rented homes in the centre of Newton Abbot. Significant financial and staff resources have been invested in progressing the project to the stage where the building contract can be signed. The project has been further de-risked since the Full Council approval, and it achieves a satisfactory financial position for entering into the building contract.

It would be possible to reduce the Council’s long-term borrowing by not proceeding with the project. However, this would result in the loss of much needed new affordable homes and cause reputational damage to the Council. The option of changing the scope of the scheme at this advanced stage would lead to significant delays and reduced value for money.