Due to a number of delays the waterpark opened later than expected, in July 2016.

Benchmark Leisure Ltd arranged for a separate company, Alpamare UK Ltd, to operate the venue.

Financial difficulties saw Alpamare seek an agreement with its creditors in January 2019.

Benchmark Leisure Ltd stopped making payments to the council in April of that year.

Scarborough Borough Council then began legal action to recover the £7.9m of outstanding debts.

Benchmark Leisure Ltd announced the temporary closure of the waterpark on 12 October 2023 and entered administration on 20 October 2023.

The debt was then inherited by North Yorkshire Council in 2023, when eight councils combined under local government restructuring.

The new authority took full possession of the site.

Flamingo Land – which subsequently took on the running of Alpamare – has no links to the borough council’s decisions.

Les said understanding what went wrong with the decision to grant the loan was important to ensure future regeneration schemes were based on “sound information and expert recommendations”.

“It’s also important to make the point that the Alpamare Water Park is today very much part of Scarborough’s visitor offer as well as being enjoyed by very many local residents,” he added.