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Invest in Torbay Opportunities INVEST IN TORBAY OPPORTUNITIES 1 Upton Place .....................6 2 Harbour View ....................7 3 Victoria Square ...................8 4 Paignton Plaza ...................9 5 Paignton Harbour ................10 6 Claylands Cross ..................11 TORQUAY 7 Devonshire Park .................12 1 8 Torbay Business Park .............13 2 9 Electronics & Photonics Innovation Centre (EPIC) ..........14 10 Brixham Lanes ...................15 3 4 PAIGNTON 5 CASE STUDIES TOR BAY 6 Abbey Sands .......................16 7 8 Corbyn Sands ......................18 9 Edginswell Business Park .............20 Sunset Villa ........................22 Broadsands ........................24 10 BRIXHAM page 2 INTRODUCTION Torbay Council welcomes investment and willingness to use the full extent of its planning is committed to regeneration on key town / regeneration and legal powers to ensure centre sites across Torbay. These sitesi have a delivery development value estimated at more than • New road infrastructure, including the recently £185M and the majority are owned by the Council. opened £110M South Devon Highway, giving Torbay has the right ingredients for successful fast and reliable connectivity to national and investment and sustainable growth. With international markets, with easy access to prime investment sites, Torbay continues to Exeter and Bristol airports. This investment bring forward ambitious, high quality new has been complemented by major road developments and is seeking partners to deliver improvements around Torquay and Paignton, transformational schemes. Torbay is already improvements to rail and bus services. Further seeing residential sales values of between infrastructure investment will see a new station £330 and £530 psf, depending on location, and being built, in 2018, to serve Torquay Gateway, improving commercial space yields. In addition to further improvements to town centres, this, Torbay offers: increased broadband speed and capacity • An outstanding quality of life, which attracts • Torbay is a leading business destination, across businesses, young people, families and a number of sectors. These businesses are retirees to the Bay; the area has urban UNESCO making the most of market opportunities, a geopark status with a fantastic coastline and low cost base, good connectivity, easy access access to Europe to world class research at Exeter and Plymouth Universities, young people with good • A proactive and positive approach to vocational skills provided by the successful growth, with a new Local Plan, Economic South Devon College Strategy and Masterplans for growth areas all agreed - underpinning political, corporate • Torbay’s economy, which is highly and community support for growth -- and a entrepreneurial, is made up predominantly page 3 of micro and SME sized companies, • A new, Council controlled, £50M investment complemented by a number of large private fund, to support local investment and and public sector employers. The Torbay development opportunities. Delivering a economy is worth more than £2bn, making fresh approach to creation of new jobs, new a significant contribution to the region’s development and exciting opportunities the economic value of £33bn and supporting key Council is willing to co-invest to make schemes sectors such as marine, advanced engineering, happen tourism, aerospace and nuclear energy; including Spirent Plc; Oclaro Inc; Elektron • A dedicated team for investors and Technology Plc; Gooch & Housego Plc; Dart regeneration, providing investors with ‘red Valley Systems (Franke Group), Brightside carpet’ treatment and a warm welcome to Group and MTS Marine (Bhagwan Group). Torbay, and working with investors to identify high quality investment and development opportunities. INVESTMENT OPPORTUNITIES This is the time to invest in Torbay. The brochure will help you decide exactly where and what Torbay Council is fully committed to capitalise to invest in and provides examples of recent on these opportunities, complementing the schemes which have delivered great returns ownership of the key town centre sites the from high quality, new developments. Torbay Council has also established: welcomes Investment partners who can support the ambition outlined in this brochure. i www.torbay.gov.uk/masterplans/ page 4 ECONOMIC SNAPSHOT PHOTONICS & A top 5 location in the UK for Home to dedicated A collaborative Electronics & ELECTRONICS photonics integrated circuit R & D and new product Photonics Innovation Centre design development facilities opens Q2 2018 ADVANCED Dedicated R & D facility Leading photonics Home to Oclaro R & D MANUFACTURING tackling Global Navigation companies who are Queens team, the fastest growing Satellite Systems threat Award Winners company in the Silicon Valley management (open 2018) for Innovation 150 index FOOD & DRINK Highest value of sea fish Home to specialist food Multi-award winning and landings in England - manufacturing and internationally recognised £23 million wholesale market leaders food and drink producers LIFE SCIENCES World class Plymouth Flagship £9m Torbay Innovation, education & University environmental Pharmaceutical research in Healthcare and marine laboratory, a Manufacturing Unit clinical trials at the Horizon collaborative centre for supplying the NHS and Centre, Torbay Hospital large and small life science commercial customers companies LEISURE & Home to the designated The English Riviera received Top seaside destination TOURISM English Riviera UNESCO over 4.6m visitors in 2015 in England 2015*, with the Global Geopark, one of 120 spending over £438m. English Riviera in the top ten across the globe UK destinations *Trip Advisor statistics page 5 QUICK FACTS 1. UPTON PLACE Location Located in the centre of Torquay, at the upper end of Torquay’s high Union Street, Torquay street, Upton Place provides a significant area for development. Developer The 8,500m² investment site is an area of focus to bring vitality and Seeking development further footfall to Torquay Town Centre. partner The site has the potential for ground floor commercial space, Total site area residential units and public parking spaces as part of the scheme. A 8,500m² mixed use scheme would capitalise of the high demand for housing Suitable uses accommodation in the area while supporting the growth and success Mixed use scheme with of the town centre. potential for commercial, office and residential development. OPPORTUNITY A 8,500m² investment site with flexible development options in a prime location In Torquay. Suitable for a residential led scheme with commercial units, B1 office accommodation and retention of public car parking. page 6 2. HARBOUR VIEW QUICK FACTS This elevated site, with sea views across Torquay’s harbour, provides Location the opportunity for a residential development that complements Museum Road, Torquay other award winning property schemes in the area. Developer With a number of high end, luxury apartments being developed Seeking development across the seafront this area lends itself to an impressive return on partner investment. Suitable uses Residential accommodation OPPORTUNITY The site gives the investor the opportunity to develop approximately 60 apartments near to the waterfront and habourside. Luxury accommodation is highly sought after following successful developments such as Abbey Sands and Corbyn Sands. Case studies for both developments are highlighted further on. Open sea views across Torbay are desirable and as such do provide a high rate of return as residential or tourism based accommodation. page 7 QUICK FACTS 3. VICTORIA SQUARE Location Located in the heart of Paignton town centre, the Victoria Square Torbay Road, Paignton development site is ideally positioned between the town’s Developer pedestrianised retail outlets and its seafront. Seeking development partner As an integral part of the town’s regeneration Masterplan, this 13,200m² site has the potential to create and facilitate a vibrant and Total site area attractive development that could include commercial units, a multi- 13,200m² storey car park and residential units. Suitable uses Mixed use redevelopment including; residential OPPORTUNITY accommodation, car An opportunity to invest in a prominent town centre site to parking and commercial complement existing retail and tourism offering in the town, which units enjoys footfall from residents and visitors to Torbay. The site offers potential for retail, leisure, office, parking, residential and holiday accommodation opportunities. page 8 4. PAIGNTON PLAZA QUICK FACTS The developable land at Paignton Plaza includes the Paignton railway Location station and Paignton Bus Station, in close proximity to each other, Hyde Road, Paignton and adjacent car parks. The development site is positioned a short Developer distance from the retail heart of the town. Seeking development The site offers itself to a transformational scheme where the partner development partner will work with Torbay Council and transport Suitable uses providers to bring forward a statement development. Mixed use redevelopment Paignton Plaza has been identified as a key opportunity to bring including; residential vibrancy and vitality to the area, which in turn will drive footfall and accommodation, car spend in the area. parking and commercial units. OPPORTUNITY This development site gives investors the opportunity to recreate the landscape and increase the connectivity to the town centre and make the site more accessible to local businesses. With a large
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