Paignton awarded regeneration funding

It's one of 50 additional communities to benefit from the Future High Streets Fund

Paignton has been awarded Government funding to regenerate its town centre.

It's one of 50 additional communities to benefit from the latest round of funding announced today by the Prime Minister, after missing out on the first round last month.

It means Torbay Council will receive £150,000 in seed funding to develop plans to improve the town centre, with an opportunity for millions of pounds of regeneration funding to be released

In March Torbay Council submitted a bid for more than £15 million to the Future High Streets Fund to support the regeneration of Paignton Town Centre. It is estimated this funding could attract a further £24.5 million of investment from other investors into the town. 

The bid focussed on two areas where investment is said to be most needed. The first is in the core area of Victoria Street, Torbay Road and Paignton Station Square, the town’s focal point.

The second is looking at key opportunities, such as Victoria Centre and Crossways, where regeneration is desperately needed.

Torbay MP Kevin Foster said: “This is fantastic news for Paignton and will help create a Town Centre we can all be proud of. Changes in shopping habits and the growth of online retail have hit Paignton hard, yet this Bank Holiday boost will not just deliver physical changes but inspire confidence and create real momentum for the future.”

“When we missed out on the first round, I promised to keep up the pressure for this project to happen and am delighted we now have a once in a generation level of investment which will make Paignton proud.”

Cllr Steve Darling, Liberal Democrat Leader of Torbay Council said, “We were very disappointed that we were not announced in the first wave of this Future High Streets Funding last month. Since then we have lobbied MPs and the Government as we know that our bid was very sound. We are delighted that we can now get on with such projects as finalising plans for regenerating Station Square.”

The Prime Minster Boris Johnson said: “Our high streets are right at the heart of our communities, and I will do everything I can to make sure they remain vibrant places where people want to go, meet and spend their money.”