Option and Transfer Deed signed
On Friday 29th November, we signed the Option and Transfer Deed with Thanet District Council. Because of the complexities of the site, it has taken three years to hammer out an agreement. We owe huge thanks to Locality and David Allcock of Anthony Collins Solicitors without whom we would never have got there.
Now the clock starts ticking and we have two years in which to do a feasibility study and raise sufficient funds to stabilise the frame which supports the Promenade. When that is done, the freehold for the site passes to Project MotorHouse and we will have succeeded in turning a council liability into a community asset.
The update of the 2007 Structural Appraisal shows that we are just getting there in time. The building already needs some propping.