Torbay has promised a multi-million pound recovery

Councilors said they hope to attract hundreds of millions of pounds of private investment to the Torbay area over the next 10 years as part of regeneration plans.

Torbay Council’s plans to transform six areas of Torquay and Paignton are backed by some public money but will require huge private investment.

Designs for a major project to demolish Union Square shopping center and replace it with housing, public spaces and an NHS hub have been revealed.

The store owner, who may be forced to relocate as part of the deal, said the plans should have been better communicated.

Torbay Council formed the Regeneration Partnership in November 2023. with developers Milligan and Willmott Dixon.

On the derelict former Debenhams site on the harbor front in Torquay, the partnership wants to build around 50 new homes, cafes and restaurants, as well as a 100-bed luxury hotel.

Plans include the demolition of the old car park on Lower Union Lane in Torquay to build between 100 and 155 new homes, as well as the demolition of the Victoria Center car park in Paignton to build around 200 homes with a small car park for buyers.

Around 90 residential units as part of a care home are planned for the Crossways site in Paignton, with a similar scheme planned for Torre Marina in Torquay.

A new NHS treatment center will be created on the Union Square site, a multi-storey car park will remain, as well as the listed Panier Market.

David Thomas, the Conservative leader of Torbay Council, said the council would provide £11 million of Town Deal funding from central government and hoped to attract private investment of £50-60 million.

He said the council had long wanted to make the area around Union Square “more residential”.

“This is the big piece that is needed to anchor the stake in the ground,” he said.

“From Union Square to Castle Circus it will be residential, with businesses and shops further from the Strand to Union Square.”

Stuart Harris, Milligan’s chief executive, said: “If we were to build all six sites over the next 10 years, we would deliver over 700 homes.”

Mr Harris said the partnership was trying to find long-term investors, such as pension funds, interested in “large investments”.

The council owns the Union Square site, which has several empty shops but is still home to a Greggs store and toy store The Entertainer.

Stephen Holgate owns the Panier Market near Union Square and said he has spoken with the council about the possible sale of the building.

He started working at his father’s market as a teenager in 1969 as a “Saturday boy”.

He said: “I think it’s a brilliant idea – everyone knows Torquay town center is really struggling at the moment and anything that brings new life to the town is great.”

The council office has agreed in principle with the idea of ​​binding purchase orders for nearby properties where a deal cannot be concluded.

Luke Cook, owner of Nexus Games on Union Street, leases one of the properties that will be demolished under the plans.

Mr Cook said he was “left in the dark” about the council’s plans for the area.

“We definitely need rejuvenation in this part of the city, but the council hasn’t had much communication with existing businesses here, which is disappointing to say the least,” he said.

Torbay Council said it hoped to submit a planning application for the Union Square site in 2025 and hoped work would begin in 2026.

The statement said work on the former Debenhams building would require planning permission and no demolition work was expected until autumn 2025.

Demolition work on the Victoria Center is expected to begin “early 2025”, officials have said.