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Wed September 30 2020

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Sir Robert McAlpine pulls out of £400m Torbay regeneration

27 Oct 11 Sir Robert McAlpine has withdrawn from a £400m regeneration scheme in Torbay, Devon.

The public/private partnership, with Torbay Council, involved redevelopment projects on various town centre sites over the next 20 years.

The council will now seek to negotiate with a second bidder.

McAlpine had partnered with Bristol-based Deeley Freed.

But the firm, which had hoped to sign the deal with the council by September, has now backed out.

A council statement said: "Sir Robert McAlpine and their partner Deeley Freed withdrew from the joint venture project for a combination of reasons including changing priorities within the business and the increasing weaknesses and uncertainties in the global and European economy."

Four schemes had initially been identified: the Lymington Road/Town Hall car park business centre and Terrace car park in Torquay, plus Station Lane and the Victoria centre in Paignton.

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