Sir Robert McAlpine and Bristol developer Deeley Freed have been chosen to deliver a £500m regeneration of the English Riviera coastline
Torbay council has selected Sir Robert McAlpine and Bristol developer Deeley Freed to deliver a £500m regeneration of the English Riviera coastline over a period of 20 years.
McAlpine and Deeley Freed will develop a business plan with the council and set up a local asset backed vehicle this spring.
Torbay council will commit land and buildings which will be matched with cash or assets from the private sector partners.
The development will focus primarily on sites in Torquay, Paignton and Brixham town centre.
Steve Parrock, Torbay Development Agency chief executive, said: “The decision to appoint two strong and active partners, with the necessary experience and financial ability, will enable Torbay council and the Torbay Development Agency to put in place robust regeneration plans for reversing the Bay’s economic decline.”
Five sites have been highlighted for the first phase of development. These are the Victoria Centre and Station Lane, in Paignton, and the Terrace car park, Union Street and the Castle Circus area in Torquay. These sites could be turned into a range of leisure, office, retail and residential developments, while other sites have been identified for a second wave of developments.
Nigel Greenhalgh, spokesman for Sir Robert McAlpine and Deeley Freed, said: “Torbay is an outstanding location and we aim to bring investment and secure the type of regeneration the Bay needs to deliver growth and jobs.”