THE Watchet Boat Museum extension project is on track to meet its completion date of early June.

And legal arrangements to enable the town council to use the building as its new base are being finalised, the council was told at its meeting on Monday.

Chairman of the council’s working group, Cllr John Irven, reported that transfer documentation between the council and the Onion Collective had been agreed satisfactorily and that the use of the building would be restricted to a museum, visitor centre, taxi office, council offices and public meeting rooms.

Cllr Irven said: “We have agreed the transfer of a freehold interest of the council’s office part and a percentage interest in the visitor centre part of the property.”

He said the percentage interest, currently projected as 30 per cent, would give the council a financial interest equivalent to at least its £52,500 capital investment.

He added: “Overage clauses for the first five year and five-to-20 year periods will give back to West Somerset council 90 per cent and 50 per cent respectively of any increase in value above market value resulting from any change in planning permission.”