1.    that Cabinet approve the outline proposals for schemes at Brixham Port (Oxen Cove) and Paignton Tech Park as set out in the Strategic Outline Cases at Appendix 1 and Appendix 2 to the submitted report;

2.    that Cabinet note that under delegated authority, the Director of Finance in consultation with the Cabinet Member for Housing and Finance, will allocate funding from grant monies to develop the schemes at Brixham Port (Oxen Cove) and Paignton Tech Park pursuant to the Capital Programme; and

3.    that Cabinet confirm the current programme cost estimates as set out in Section 8 of the submitted report to enable the figures to be reported to Government at the end of May 2026 as is required by the new Local Regeneration Fund (LRF) quarterly monitoring return.

The decision was based on the strong progress and deliverability of the Brixham Port (Oxen Cove) and Paignton (Tech Park) projects, supported by a clear programme that aligns with Government funding requirements and the continued use of the £20m Levelling Up Fund allocation, now within the Local Regeneration Fund.  Both schemes are well advanced, on track for completion by April 2028, and will proceed as originally approved, with funding allocated in line with agreed timelines and assurance processes.  The projects will help deliver Torbay’s economic vision by investing in key sectors, creating high-quality employment space and supporting job growth.  This includes expanding the photonics industry through Tech Park and strengthening the fishing and aquaculture sectors at Oxen Cove, while enhancing the area’s reputation and visitor experience.  Together, they are expected to generate long-term economic benefits and potential surplus income to reinvest in wider regeneration.

Choosing not to proceed would result in Government funding being returned and the loss of potential investment in the local economy.  A range of options for the building design and layout have been explored, with the preferred proposals identified and set out in Appendices 1 and 2 to the submitted report.

The decision will come into force and may be implemented on 26 May 2026 unless the call-in procedure is triggered (as set out in the Standing Orders in relation to Overview and Scrutiny).

The projects have been in development since autumn 2024, following confirmation of Levelling Up Fund support, and have progressed through a range of logistical and design challenges to reach their current stage.  At Paignton, the success of the Electronic and Photonics Innovation Centre (EPIC) building has created a need for additional high-specification “grow-on” space, as existing capacity was now full and limiting the natural progression of photonics businesses.  The Tech Park would address this by enabling high-value companies to scale and remain within Torbay.  At Brixham, the port is operating beyond its intended capacity, with limited facilities to support processing and added value, resulting in much of the catch being exported elsewhere for processing.  The development at Oxen Cove will provide modern employment space to support expansion, diversification, and the growth of a more sustainable and higher-value fisheries sector, helping to retain economic benefits locally and strengthen the Brixham brand.

None.