TDA, on behalf of Torbay Council, has applied for planning permission to develop land at Claylands Cross into a new buinsess park.
Torbay Council’s Elected Mayor and Executive Lead for Finance and Regeneration, Gordon Oliver, said: “This site has been identified as an area which can be developed to the benefit of local businesses and economy. The new Claylands Business Park will act as a hub to support the growth strategies for some of the area’s most ambitious and innovative businesses, who want to upscale and remain internationally competitive. Investment projects like this will help secure Torbay’s long term economic prosperity and deliver large-scale growth targets, providing new jobs and maximising productivity.”
Investment in the site by Torbay Council will provide new, high quality employment space, which will create new jobs and boost the local economy. Torbay Council’s investment creates an investment that will generate rental income for the Council whilst also creating approximately 275 new jobs in the Bay.
The 10 acre brown field site, located on the Brixham Road in Paignton, will provide occupiers with larger industrial type buildings that are currently not being provided by the private sector. The buildings will provide sought after industrial warehouse and office space for local, expanding companies with high growth potential and to accommodate new inward investment.
Alan Denby, TDA’s Director of Economic Strategy and Performance, said: “The development will regenerate a disused site, and create over 270 new jobs. It is expected that Claylands Business Park will provide a significant boost to the economy, initially contributing over £6.8 million per year to Torbay. Once fully developed, Claylands business Park will provide over 115,000 sq. ft., accommodating over 270 employees and contributing around £10.4m per year to the value of the economy.”
Phase one of Claylands Business Park will consist of space across three units. Each unit will have office facilities, dedicated parking and shared use of a secure service yard at the rear of the buildings. Construction of the buildings will only be commenced once tenants are secured to reduce the risk to the Council. Road and service infrastructure will be prioritised to enable development to proceed swiftly when tenants are secured.
Alan Denby continued: “We are very pleased with the level of early interest being shown in the site from occupiers which shows how the shortage of suitable premises has been holding back the Bay’s economy in recent years.”
Subject to permission being received in January for the planning application to develop the site, development is expected to start early in spring 2017. It is anticipated that the units will be available at Claylands Business Park at the beginning of 2019.
To find out more the investment opportunities in Torbay visit www.investintorbay.com or call Investment Development Manager, Jason Buck, on 01803 208799.Follow