Torridge District Council votes to reallocate funding to the delivery of a further phase of the Hatchmoor Industrial Estate Project

Torridge District Councillors have voted unanimously to reallocate £2m of funding within the Community Regeneration Partnership (CRP) programme, from the Bideford Business Park Project to the delivery of a further phase of the Hatchmoor Industrial Estate Project in Great Torrington.

In March 2025, Torridge District Council was awarded £20,700,000 in capital investment with £250,000 revenue funding through the Community Regeneration Partnership (CRP) to support a number of projects that benefit residents across the district.  The projects being funded will support the council's strategic ambitions, delivering lasting benefits to Torridge.

The decision was taken to transfer the funds from the Bideford Business Park Project, after the current landowners decided that they no longer wished to sell the land, required to deliver the scheme.  It was agreed that the funding should be reallocated to the Hatchmoor Industrial Estate project due to its similarities and that it can be scaled up and delivered within the CRP timeline.

Councillors also voted to include the use of an additional £3.35m from Torridge District Council (funded through additional borrowing).   The revised capital cost of the project is now £6.95 million.  The additional funding will allow for the delivery of further infrastructure and the construction of 480m² of commercial units during Phase 1.  Phase 2 will deliver further site infrastructure and construction of 600m² of commercial units.

Councillor Ken James, Leader of Torridge District Council, said:

"Whilst it is disappointing that the Bideford Business Park Project is no longer going ahead, by diverting the funds to Hatchmoor Industrial Estate we can upscale our original plans.  Hatchmoor has been a longstanding priority for us as a Council, so I am delighted that we are progressing well and that the project is on schedule to be delivered within the CRP timeframe.  This, along with the other projects that have received funding under the CRP scheme will help to increase "home-grown opportunities" to encourage young people to stay in the area rather than move away."

Sept 25