Unique development opportunity in the New English Riviera

15th June 2010

Torbay Development Agency (TDA), working on behalf of Torbay Council, is looking for a private sector partner to deliver a major regeneration programme in one of Europe's finest marine environments: The New English Riviera.

The Mayor's Vision is the master plan for Torbay's built environment over the next 20 years. The programme includes five sites in phase 1 and potentially in excess of 18 sites over the life of the partnership, with the opportunity to call upon further council assets to add value to the proposal.

Torbay is the size of a small city with a core population of 135,000. It is a popular, successful destination for business and tourism. It enjoys a stunning natural landscape and offers an unparalleled quality of life. The current trend for relocation to rural and coastal areas positions Torbay as a key growth point. Exeter International Airport is nearby; by direct train London is just a three hour journey away, the M5 is just 17 miles away and Plymouth, Exeter and Bristol are within easy reach.

With retail growth at 10 percent per year, favourable land values, access to highly skilled and cost effective workforce Torbay is an attractive option for a developer wishing to penetrate or consolidate in an important South West conurbation with retail and leisure as the primary driver.

Torbay elected Mayor, Nick Bye says: "We are looking for a developer to help us bring about the physical and economic regeneration of the Bay and enable the council and the TDA to deliver the benefits to the local community.

"This presents a once in a lifetime opportunity for major developers to be part of the regeneration of the New English Riviera at a favourable time in the market place.

"We have laid important foundations to make sure we turn the Mayoral Vision into reality. We have been speaking to developers and investors, putting economic strategies and planning policies in place to promote regeneration. We have been finding ways to reverse the economic trend and have committed to key regeneration projects totalling nearly £50m in the last two years. We have consulted, listened and taken expert advice on the best way to deliver change. Torbay is ready for that change and we are now looking for a private sector partner to share the driving seat."

A Developers Open Day takes place in Torbay on the 22nd June, and the closing date for expressions on interest is 6th July. To download the Memorandum of information and Pre-Qualification Questionnaire, please visit www.devontenders.gov.uk