The final business case in Torquay’s Town Investment Plan is due to be submitted for funding approval.

The business case which will be the catalyst to transforming Torquay town centre will be considered by Cabinet on Tuesday 10 January 2023.

The business case focuses on reshaping Union Square Shopping Centre after we purchased the site after the owners put it on the market during the summer of 2022.

The business case is supported by the Town Deal Board and is in line with the Torquay Neighbourhood Plan (approved at a referendum in 2019) and the Town Centre masterplan which was developed with key stakeholders in the community back in 2015. Both plans set out a long-term vision for the Union Square site that looks to connect communities, create a town centre that is fit for the future and diversifies the local economy.

Torquay’s Town Investment Plan (TIP) is supported by £21.9million of Town Deal grant that was secured by the council in October 2020.

The flagship business case has more than £11million of Town Deal funding allocated to it to help make the town centre a more attractive location to both live and work.

If the business case is approved by Cabinet, it will be submitted to the Department for Levelling Up Housing & Communities (DLUHC) to draw down the allocated funding.

As the retail position in town centres has changed in recent years we are focusing on reshaping the way in how Torbay’s town centres work. In 2020, Torquay had over 70,000 sqm of town centre retail floorspace, more than any other coastal town in the region. Pre-pandemic data also shows that Torquay had an average retail vacancy of 18% - indicating an oversupply of retail floorspace in the town.

The approval of this business case would help address the changing nature of Torquay town centre by improving the way in which the town centre works for the benefit of residents, businesses, and visitors.

It is expected that we will be submitting a planning application in the summer of 2023 and will be developing options for the site in the coming months. The Neighbourhood Plan and the Town Investment Plan recognise the importance of an improved town centre for Torquay, which will include a reduction in the overall amount of retail space. Like other town centres, Torquay has empty shops which could be used for other purposes.

By introducing more non-retail uses into the town centre, we can not only look at opportunities to provide much needed affordable housing for sale and rent but create a better-quality high-street experience that attracts investors and users to the area.

Cllr Darren Cowell, Deputy Leader of Torbay Council, said; “As people change how they use town centres, we need to adapt and change with them. The acquisition of Union Square and the approval of this business case sees us at the start of our journey to create a multifunctional town centre that is thriving and fit for the future. Whilst we are excited about the future direction of Union Square, we’d like to reassure the tenants and staff that for now it is business as usual, and we will continue to communicate any changes directly with them.”

Cllr Swithin Long, Cabinet Member for Economic Regeneration, Tourism and Housing for Torbay Council, said; “The approval of this business case is a great opportunity to bring about transformation and investment in Torquay. It’s a huge and ambitious project but one that the council is committed to delivering on. Conversations are already underway with prospective occupiers and investors as we look to maximise the potential for the town centre.”

Vince Flower, Chair of Torquay Town Board, said; “As a board we fully support this business case. The redevelopment of Union Square is the flagship project in the Town Investment Plan as we seek to create a more vibrant, attractive, and thriving commercial and social centre for residents and visitors.”

As a programme the Town Deal will deliver benefits which are expected to include increased footfall and visitors in the town centre, improved journey times and access into and around Torbay, an improved cultural and tourism offer, high skill levels and more jobs. Projects including investments at Upton Park Princess and Royal Terrace Gardens are already having an impact as well as the Illumination Trail as part of the Bay of Lights initiative that is part funded by the Town Deal grant.

Other projects benefitting from the Town Deal grant include 12-14 The Strand (former Debenhams building), the Pavilion, Edginswell Station the Strand Public Realm, and the Town Centre Public Realm (GPO roundabout) which is currently seeking views from the public on five concept ideas. View the concepts and have your say by Sunday 8 January 2023.  

This is an exciting time for Torbay with a range of multi-million-pound projects in the pipeline to make spaces where people can thrive. These include £13.36miliion from the Future High Street Fund for Paignton and £7.8million awarded from Network Rail for a new train station in the Edginswell area. There are also places to enhance Brixham in line with the Brixham Peninsula Neighbourhood Plan with key areas earmarked including Harbour regeneration and Brixham Town Centre car park which received a share of £1million secured through the Brownfield Land Release Fund.

Stay up to date with Torquay and Paignton regeneration projects by signing up to the improvement projects newsletters.

Torquay Projects newsletter. 

Paignton Projects newsletter. 

The full report being considered at Cabinet on Tuesday 10 January 2023. The report is item 15 on the agenda.