A £45m ($75m) leisure-based regeneration scheme in the British coastal town of Torbay, is gaining momentum, with local council and the Torbay Development Agency naming Moirai Capital Investments (MCI) as preferred developer for the Clennon Valley project.

Plans call for the redevelopment of Torbay Leisure Centre, with Morai also proposing to turn the nearby Splashdown Quaywest waterpark into a facility that can run all year round.

The tender will be referred to the full council meeting on May 1.