The Torbay regeneration partnership, formed between Torbay Council, Willmott Dixon and Milligan is projected to unlock more than £105 million of economic value, create over 1,300 permanent jobs and deliver more than 1,000 new homes, as its coordinated approach drives forward long-term change across the bay.
Spanning Torquay, Paignton and Brixham, the programme brings together 12 regeneration sites into a single, joined-up investment strategy, moving away from isolated developments towards a portfolio approach designed to accelerate impact and build sustained economic momentum.
A programme designed for scale and impact
At the heart of the initiative is a clear economic proposition: strategic, coordinated investment delivers greater returns.
- £604 million total estimated programme spend
- £105 million added to the economy (GVA)
- 3,700 years of construction employment
- £48 million in annual wages
- 1,300 permanent jobs
The wider ripple effects are equally significant. Additional ‘knock-on’ benefits are expected to generate:
- 4,300 further years of construction employment
- £26 million additional GVA
- £14 million in annual wages
- 400 more permanent jobs
Together, these figures underline the scale of the opportunity: a programme not just of physical change, but of long-term economic growth.
High-value investment with long-term returns
The programme has already demonstrated strong performance against national benchmarks, achieving a Benefit to Cost Ratio (BCR) of 2.2, placing it firmly in the UK Government’s “high value for money” category.
Across the programme, projects are carefully balanced to deliver both commercial returns and wider social value including affordable housing, health infrastructure and cultural venues.
Mike Anderson, Chief Investment Officer at Milligan, comments:
“Too often, regeneration focuses on single sites and expects them to carry the weight of change. What we’re doing in Torbay is different. We’re bringing forward a coordinated programme of investment across town centres, waterfronts and key gateways, so that each project reinforces the next and builds visible momentum across the whole bay.
That approach is already starting to shift confidence. We’re seeing new businesses choosing to invest, more activity in our town centres, and early signs of value being created that simply wouldn’t happen through isolated schemes.
This is about much more than individual developments. It’s about reshaping the local economy in a way that is sustainable, investable and rooted in place. The strength of the programme, and the scale of its impact, shows what’s possible when you take a long-term, joined-up approach and why Torbay can become a blueprint for how coastal communities can drive growth and renewal.”
