BUDE-Stratton Town has announced it will be selling a site which it aimed to transform into affordable housing.

In 2023, the council secured the property at 1 Lords Court in Stratton for £275,000 in the hope of providing housing for local people, as well as securing a future for Stratton Stores.

Since then, the site has sat in limbo. The building comprises Stratton Stores, as well as two flats and two bedsits.

At the time of the purchase, Cllr Mike Dawe said: “Guaranteeing the future of Lords Court protects a vital shop and post office, secures local employment and also responds to the need for housing which was highlighted by the Housing Survey conducted last year.”

Cllr Peter LaBroy also stated that ‘purchasing this property is a big commitment’ but that it ‘will enable a solid future for the shop and provide several homes at reasonable rents for local people.’

However, three years on, the council has made the decision to sell the site.

In a statement following the resolution, the council expressed it has ‘explored a range of options for the future of the property’, though despite this, professional reports have ‘confirmed the building requires significant repairs and investment in order for the flats to meet modern living standards’, this adding to the sum paid for the property initially.

A council spokesperson said: “Bude-Stratton Town Council also worked with North Kernow Community Housing to explore whether a viable proposal could be developed. The organisation was given four months to produce a business case, but was unable to identify sufficient funding to support a proposal that would meet the council’s financial responsibilities.

“Over the past three years the council has considered a number of potential options for the site. However, it has not been possible to identify a workable and financially sustainable solution and the council is disappointed that a viable way forward for the building has not been found.”

At the vote, councillors considered the substantial investment that would be required to make the residential flats habitable and carry out the necessary repairs to the building as a whole, alongside the council’s wider responsibilities and the need to manage public funds carefully on behalf of residents.

Following this discussion, councillors voted to begin the process of selling the property on the open market. Work to initiate the sale is expected to begin next week.

A spokesperson continued: “The council would like to make clear that selling the building does not automatically mean the closure of Stratton Stores and Post Office. This is an established business operating from the property and a future purchaser may choose to continue running the premises in its current form.

“The council recognises there has been strong interest in the future of the building and appreciates the time and effort that members of the community and partner organisations have given in exploring possible options.”

In light of the decision, Cllr Dawe, the town’s mayor, said: "When we bought 1 Lords Court, we hoped it could provide opportunities that would benefit the community, including housing and local services. Over the past few years, it’s become clear that the building needs substantial repairs and investment that the council isn’t able to fund.

“After careful consideration, councillors have agreed to put the property on the open market. I want to reassure everyone that Stratton Stores and Post Office will continue to operate and a future owner may choose to maintain them. Our focus remains on using public funds responsibly while supporting the wider needs of the community."