The next phase of work - to be jointly funded by the South West RDA, North Devon Council and Devon County Council - will provide more detailed surveys of each and a full commercial analysis on how the regeneration schemes will maximise the economic benefit for Ilfracombe and the wider region.
The result of the project will be a developed and costed masterplan for Ilfracombe's regeneration. This will enable specific sites to be marketed to give maximum value to the regeneration project, whilst also ensuring the scheme provides the required regeneration benefits for the community.
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James Wilson, Operations Manager for the South West RDA, said: "The northern Devon area has been identified as a priority place by the RDA as we invest to unlock the business potential of the region. We have indicated our support in principle for the regeneration of Ilfracombe and this essential next stage of the process is aimed at determining the commercial value and costs of development that will maximise the economic benefits of regeneration for the town and attract inward investment from developers."
Mr Wilson continued: "This work will determine the commercial reality of former conceptual studies undertaken on the Town Centre and Harbour. It is the next step on the regeneration journey from vision to reality and is about providing confidence to developers that Ilfracombe is a place to invest for the long term."
Property, regeneration and development specialists Alder King are being appointed by North Devon Council with the assistance of the RDA to carry out the commercial valuation and master planning work.
(JM)
