Innovative regeneration that will help to build a prosperous future Torquay Town
In September 2019, the government announced a new multi-million pound Towns Fund. Torquay is one of 101 towns invited to develop regeneration plans that will help to build a prosperous future for the town. In October 2020 it was announced that Torquay will get an investment of £21.9 million from the Towns Fund.
Aims of the Towns Fund
The aim of the Fund is to drive the economic regeneration of towns to deliver long term economic and productivity growth through:
Urban regeneration, planning and land use
Ensuring towns are thriving places for people to live and work, including by:
- Increasing density in town centres
- strengthening local economic assets including local cultural assets
- site acquisition, remediation, preparation, regeneration
- and making full use of planning tools to bring strategic direction and change.
Skills and enterprise infrastructure
Driving private sector investment and ensuring towns have the space to support skills and small business development.
Developing local transport schemes that complement regional and national networks, as well as supporting the delivery of improved digital connectivity.
Preparing for a Town Deal
A Town Board was created to oversee the writing of a Town Investment Plan. The Investment Plan was submitted in July. It is the basis for a Town Deal and helps develop detailed business cases for the projects. They will bring transformational investment into Torquay.
The Town Deal Board and partners see this a great opportunity to bring transformational investment into Torquay. The aspirations of the board is to revitalise and regenerate the town centre and surrounding areas.
One of the many projects that would benefit from investment through the deal is the Torquay Strand public realm. Each project within the investment plan would drive forward a better experience in the town centre, provide a better mix of uses, and create a place where people enjoy spending their time.
Torquay is the heart of the English Riviera. A grand, elegant town with a rich history linked to its naturally inspiring coastal, maritime and landscape setting, with a vibrant town centre. This unique setting provides one of the best places to live, work and play in the South West. Connections to London have improved and further enhancements, particularly rail, allow Torquay to be more accessible to investors and visitors from within and outside the town. High quality tourism is one of the leading sectors with an international reputation, and the town is thriving after the Coronavirus crisis. Torquay has a high value health and social care economy linked to the Torbay Hospital improvement programme, and the wider offer of Torbay’s advanced electronics and photonics sector is enhanced by the skills and space on offer in Torquay. Torquay has a thriving business community providing well-paid, high quality employment in a broad range of sectors.
Through the Town Deal and Town Investment Plan, Torquay will deliver outcomes which include:
- More private and other public sector investment
- More business start-ups, business success and young entrepreneurs
- New jobs
- Increasing the number of people living in the town centre
- An improved cultural and tourism offer
- Improved health outcomes
- Reduced town centre antisocial behaviour
- Less benefit dependency, inequality and disadvantage.