Investors probably needed for Paignton mansion

Restoration is estimated to cost more than £40 million

The future of Paignton’s crumbling Oldway Mansion will almost certainly depend on outside investors.

A Torbay Council working party has heard that while local people are concerned about how much of the mansion could be given over to homes or holiday accommodation, some income would have to be generated to stop the rot and start the restoration.

Alan Denby, Torbay’s director of pride in place, says income generation is key to the project. It has been estimated that restoring Oldway could cost £40million or more.

He told a working party meeting on Monday: “We can’t expect that this is going to be a problem solved by external grants. We will have to find a way to make the site work for us.”

He said a recent public consultation shows people want access to Oldway’s showpiece areas such as its magnificent staircase, and the commercial side of the restoration would demand ‘a degree of delicacy and a keen eye for detail’.

Mr Denby said more than 1,800 people took part in the consultation, and there is strong support for the latest restoration proposals, even though they include homes or holiday accommodation on the upper floors of the main building.

He said people are keen the building isn’t allowed to deteriorate any further, and they want to maintain public access with events such as weddings, festivals and cinema screenings.

A proposal for an activity centre at the Rotunda building, which could include a climbing wall, had been put forward by an outside provider, said Mr Denby. The council has yet to explore whether it would be the right use for the historic building, which has variously been a stable block, film studio and engineering works among other uses.

The working party also considered the latest report from Oldway project director Katherine Findlay, which suggests the government’s ‘levelling up’ initiative could provide funds for restoration.

Torbay has had two bids for funds turned down in recent years, having applied for a new high-tech factory in Paignton and improvements to the fish quay at Brixham. Now there are hopes that a third round of funding could favour a heritage scheme.

“We believe there will be a third round,” said Mr Denby. “What we don’t know yet is when it is going to be announced, or if it is something we are going to be able to bid for.”