3. What will happen to Knowle?
The buyer of Knowle is a company called Pegasus Life Ltd. This company are specialists in providing living and care facilities for an older population. The demographic of East Devon shows clear compatibility with usage of this kind with Sidmouth having a population of 45.3% over 65 and 11% over 85 (2011 census).
The sale of Knowle to Pegasus Life Ltd is subject to a successful planning application which is due to be considered by the planning side of the authority in Summer 2016.
The council has agreed that 86% (3.5 hectares) of the parkland at Knowle will be offered to Sidmouth Town Council to own and manage in perpetuity with a covenant over future development of this land.