New operator to invest in iconic Paignton Harbour building
St Austell Brewery chosen as the new operator of the Harbour Light restaurant on Paignton Harbour.
The Harbour Light restaurant has over 5,000ft² of space for development, which St Austell Brewery plan to invest £1 million to create a stunning new bar and dining venue with outside seating looking over the Harbour.
Torbay’s Interim Director of Place, Kevin Mowat, said: “A record of decision to grant St Austell Brewery a long lease of the Harbour Light restaurant has recently been signed. Subject to planning, this decision facilitates significant investment into the building to increase the vitality of Paignton Harbour. This is another example of a successful private operator bringing investment, development and regeneration into Torbay, which in turn will create jobs.”
Adam Luck, Director at St Austell Brewery, said: “We are delighted to have secured the long lease of the Harbour Light restaurant on Paignton Harbour. The building has huge potential and we are excited to be working with Torbay to create a new venue in such an amazing position.”
This development opportunity is a product of the Council’s Port Masterplan and has been promoted by the Tor Bay Harbour Committee. Having agreed to invest in this regeneration and place shaping scheme, the Council has been working alongside the TDA to identify the right partner to take this project forward.
This project supports the objectives set out in Torbay’s Economic Strategy and Destination Management Plan and complements other investment in Paignton such as the Fragrance Group at Park Hotel.
Matt Bettesworth, Bettesworths Chartered Surveyors, said: “Bettesworths were delighted to be instructed by TDA to market this iconic building on Paignton Harbour. Following a far reaching marketing campaign we received a number of tenders from a range of regional and private operators with St Austell Brewery being the successful bidders.
“It is clear that St Austell Brewery will bring an impressive offering to this historic building and have both the experience and investment ability to put this waterside property on the map. St Austell Brewery know Torbay well with several outlets trading successfully in the Bay and in particular the Old Market House at Brixham, which has many similarities to the Harbour Light property. Residents and visitors to Torbay will no doubt be delighted to see further investment coming into the Bay and will soon have another quality waterside establishment to visit and enjoy.”