Cornwall Council has approved the £1 sale of a Grade II listed building on the condition that it is used as affordable housing.
The Coastguard Flats in the port town of Looe will be sold to the Three Seas Community Land Trust after the council found it could not viably pay for the refurbishment.
It is hoped that the trust will be able to refurbish the 11 flats – at an estimated cost of £1.25m – with access to grant funding not available to the unitary authority. Funders have indicated ‘in principle’ support for the scheme.
The community land trust is also seeking to become a registered provider social landlord.
Cornwall Council said selling the £640,000 property on the open market would be likely to result in the loss of affordable housing.
Ensuring the 11 units were used for affordable housing would reduce the number of residents needing to be placed in costly temporary accommodation, the authority added.
In Looe, 206 households are registered for affordable rental properties.
Looe councillor Edwina Hannaford said: ‘Providing affordable, secure, social housing is incredibly important for the people of Looe. The lack of affordable housing in Looe is a real emergency replicated across Cornwall.
‘I’m absolutely delighted with this positive step forward after years of campaigning and I’m especially pleased the project will be under local control.
‘It will also bring back into good use a significant historical, Grade II listed building.’
