Torridge to benefit from major investment and regeneration boost

Torridge is set to benefit from a £20 million investment aimed at driving regeneration and growth across the area.

The funding, provided by the Ministry of Housing, Communities and Local Government, will support key projects focused on boosting local employment, addressing the housing crisis, and enhancing community health and wellbeing.

The investment, confirmed today (March 3), will be used in several areas, including the development of local green innovation, the creation of affordable homes, and improvements to health care and infrastructure.

The funding package is part of the national Plan for Change, an ambitious government initiative designed to ensure communities across the UK can access the benefits of economic growth.

To stimulate the local economy and provide more opportunities for residents, the funding will support the expansion of manufacturing and engineering facilities at Bideford Business Park and improvements to infrastructure at Torrington’s Hatchmoor Industrial Estate.

In line with the government's commitment to building 1.5 million homes across the country, the funding will bring forward plans for affordable and social housing in Bideford, as well as retrofitting existing social homes in Torridge to improve their energy efficiency, reducing bills for vulnerable residents.

The funding will also support the repurposing of a redundant ward at Bideford Hospital, transforming it into a Community Health and Wellbeing Hub. 

This facility will offer a multi-purpose space for healthcare services, fitness classes, group appointments, and community support, providing much-needed services for local residents.

Torridge’s growing agri-innovation sector will also see a boost, with funding allocated to expand the Agri-Business Centre in Holsworthy and support the development of Appledore’s Clean Maritime Innovation Centre (ACMIC). 

These projects aim to create jobs, attract national investment, and improve connectivity for local workers, all while positioning Torridge as a leading hub for clean maritime innovation.

Environmental initiatives will also benefit, with the launch of the Bideford Nutrient Recovery Pilot, a project designed to reduce pollutants entering local rivers. 

Real-time monitoring through the Westward Ho! Buoy will help identify sources of pollution, supporting efforts to maintain high water quality for both residents and visitors.

The funding will also support the preservation of Torridge’s unique heritage by creating flexible community spaces. 

The historic Bideford Pannier Market building will be developed to host community events, and the Holsworthy Manor office space will be modernised. 

The Grade II-listed Globe Hotel in Torrington, which has long been derelict, will be restored into an 11-bedroom training hotel and restaurant, providing valuable training opportunities and boosting the local economy.

Local Growth Minister Alex Norris said: “Growth is the government’s priority and we want every person and community across the country to be part of this. The regeneration and improvements coming to Torridge will really put this region at the forefront of our decade of national renewal.  

“With this £20 million package we are tackling issues that really matter to the region, rather than a one-size fits all approach, this tailored package will guarantee long-term, sustainable growth that means more money in people’s pockets as promised in our Plan for Change.” 

Councillor Ken James, Lead Member for Torridge District Council, said: “We are thrilled that the Government has confirmed that it will be investing over £20 million to fund transformative regeneration projects across the district.  This is fantastic news for Torridge and a testament to all the hard work put in by our officers and members of the Torridge Place Board.   

“The breadth and scope of projects being announced today, will enable us to work along alongside our partners and key stakeholders to make a real long and lasting difference to the people of Torridge.  Securing investment like this is vital part of these plans I am looking forward to working with team to ensure a successful implementation of the next phase.”