Regeneration funding for Torquay

The focus will be on improving transport, broadband connectivity, skills and culture

Torquay is on a list of 100 towns invited to put forward regeneration proposals worth up to £25m under a government funding scheme.

Torbay Council will now work with partners to develop projects for a share of the £3.6 billion Towns Fund.

The focus will be on improving transport, broadband connectivity, skills and culture.

The extra funding will support work already under way to tackle deprivation in the town and more widely across the area.

The partnership of Independents and Liberal Democrats which took control of Torbay Council in May has identified economic development as a key measure to tackle poverty.

It has created a £100m regeneration fund to support projects in the area and is expected to make a major announcement soon about a town centre retail site.

Regeneration proposals for the town centre are likely to build on a recently-approved plan to turn the former BHS store in Union Street into a 13-screen cinema.

Schemes already under way include a £32m redevelopment in Torwood Street to create a new Hilton Hotel, offices and shops.

Meanwhile planning permission has been given for a new Premier Inn on a council-owned car park at The Terrace above the harbour.

Torbay Conservative MP Kevin Foster welcomed Torquay being chosen by the Government for a Town Deal.

He said: “This is great news for our bay and will help build on the momentum already developing in terms of regeneration and economic growth. 

“This is a chance for Torbay to come together and take our bay forward.

 “I look forward to working with Torbay Council, colleagues in Government, local businesses and residents to ensure we take advantage of this golden opportunity to deliver a Town Deal which will tackle the issues which might hold our economy back and help create opportunities for the next generation in our bay.”

 The Government will publish a document to guide towns through the process and set eligibility criteria for funding.

Local Government Secretary Robert Jenrick said on Friday: “I will now work with local people from the 100 communities announced today to agree proposals to invest up to £25 million in each place.

“I hope these deals will provide the investment and the impetus for long-term renewal ensuring each town can look to the future with a new optimism.”

The latest funding announcement follows £150,000 allocated to Paignton from the Government’s Future High Streets Fund.

That cash will go to prepare detailed business cases for projects to improve the town centre.

Torbay Council’s initial bid in March for 14 projects included public space improvements in Paignton Station Square and longer term projects such as residential use of vacant space over shops.

The bid showed that an injection of £15 million from the Government could unlock a further £25 million investment in Paignton town centre.