Council's assets could go on sale to raise funds

The council promises that local "crown jewels" such as the pavilion at Torquay will not be sold-off

Some of Torbay Council’s out-of-town assets could go up for sale as the bay looks to balance its books.

One of the ways it could raise money is to review its out-of-area investments, which are worth about £175m and include a pasty factory in Cornwall, a cinema in Somerset and an Amazon warehouse in Exeter.

According to the Local Democracy Reporting Service, the council’s total revenue budget is £139m. It receives £8.2m from the government and the rest must be raised locally through council tax and business rates.

The council has promised that local "crown jewels" such as Oldway Mansion and the Pavilion at Torquay will not form part of any sell-off.

Torbay Council deputy leader Chris Lewis said the area's most valued assets would be immune from the review.

He said: "The assets that mean a lot to the people of Torbay are not on that list.

"We have found £1m for urgent repairs to Oldway and we recently reached an agreement with the leaseholders on the pavilion."

He added: "We are determined to deliver on those two assets."

The full budget proposals can be seen on the Torbay Council website, which also has details of a public consultation which runs until Wednesday 7 February.