£8.4million pound funding in the bag for Brixham

The funding package for the multi-million pound regeneration of Brixham was given a boost last week as Torbay Council officially accepted an offer from the South West of England Regional Development Agency (RDA) for £8.4million towards the project.

With this process complete, the RDA's official offer letter was received by the council last Thursday (26 July) and has now been signed off by Director of Finance Richard Thorpe.

Cabinet Member Councillor Derek Mills said: "This is absolutley fantastic news for Brixham. We have known of the RDA's intended contribution towards the project for several months but the offer letter makes it official.

"Confirmation of funding from the RDA demonstrates their confidence in the future of Brixham and reflects the strong working relationship that they have formed with the council, its regeneration arm the Torbay Development Agency and Brixham 21.

"It appears that the final parts of the puzzle are slotting into place but we must still continue to progress with caution until the preferred contractor confirms the final cost of the project and the remaining funding streams have been confirmed."

Today's announcement is part of a significant commitment by the RDA to support the Torbay economy, including 7.6million GBP invested in waterfront improvement schemes for the area and 1.5million GBP towards a new innovation centre in Lymington Road, Torquay.

James Wilson, Torbay and South Devon Operations Manager for the South West RDA, said: "We are supporting this scheme because it is an important first step in the wider regeneration of Brixham aimed at improving its economy, preserving its fishing industry and providing new homes and space for businesses.

"Since announcing its investment in January, the RDA has already released 280,000 GBP to enable pre-project preparation and design work to be carried out.

Now we have agreed our overall investment we look forward to the successful delivery of the scheme once TDA and its preferred contractor have finalised the detail."

Jon Andrewes, Chairman of Brixham 21 said: "It has taken five years of confidence building with our funding partner , the RDA , but the results are starting to show.

We can now see the first stage of Brixham's three-phase regeneration programme which will also include a town centre development and a northerm arm.

"With strong ties between Brixham 21, Torbay Council and the TDA and a developing partnership with the new town council, we can look towards a very bright future for the economy of the town, its residents and its vistors."

The regeneration project will see the current fish market totally transformed with a major extension, improved access and auction facilities, a new tourist walkway and restaurant/shop.

The Oxen Cove development will provide employment space on 2/3 storeys with accommodation for tenants being located from existing fish market, a new harbourmaster's office and further offices and business units.