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 £8.4m towards the project.

The RDA Board agreed in January to invest in the project to transform Brixham fish market and create new employment space in nearby Oxen Cove, subject to finalising detailed plans for the scheme with the Torbay Development Agency (TDA).

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

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Cabinet Member Councillor Derek Mills said: “This is absolutely 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.”

Today’s announcement is part of a significant commitment by the RDA to support the Torbay economy, including £7.69m invested in waterfront improvement schemes for the area and £1.5m towards a new innovation centre in Lymington Road, Torquay.

James Wilson, Torbay and South Devon Operations Manager for the 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 to enable pre-project preperation 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.”

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.

(JM/SP)