September 2017

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Published on 8 September 2017

Investment proposed for Market Walk Shopping Centre

An artists impression of how Newton Abbot's Market Walk could look.

Proposals to invest £1.9million to improve Market Walk Shopping Centre will be considered by Teignbridge councillors on 25 September.

The proposal, due to be considered by Full Council, would see Teignbridge invest the money in a refurbishment programme that will overhaul and modernise the appearance of the retail centre in the heart of Newton Abbot.

Councillors are being asked to allocate the capital funding to re-clad the outside of the shop units, remove the low level concrete canopies and replace with a larger glazed cover and re-pave the centre from Courtenay Street through to Market Square. Subject to budget and planning approval, work could start early in 2018.

The enhancement proposals are going on display in Market Square, Newton Abbot on Saturday 16 September and Wednesday 20 September for people to see.

Cllr Jeremy Christophers, Teignbridge District Council’s Leader, said:

“I hope the investment to be considered by Full Council demonstrates Teignbridge’s commitment to making our communities stronger and places better. People can have a look at the proposals at the exhibitions in Market Square and we’d encourage people to go and have a look.

“We’re putting into practice the promises made within our council-agreed 10-year plan of action to invest in prosperity of our district. In order to do this, the council needs to do look at ‘invest to save’ opportunities and, if agreed, this represents a vote of confidence in the town’s prospects for the future.

“The planned investment is the latest step in Teignbridge’s ambition to design and deliver regeneration and improvements schemes that make Newton Abbot more modern and attractive, help attract new businesses and encourage established ones to grow.”

With less money from central government in future years, the council’s finances will need to be increasingly ‘home grown’ and tied in with local economic fortunes. The decision by Teignbridge to purchase Market Walk was unanimously supported by Full Council in December 2015 with the deal being formally sealed in February 2016.

The £13 million acquisition of Newton Abbot’s Market Walk shopping centre was the largest investment in Teignbridge‘s history and gave Teignbridge a greater ability to positively influence the future development of Newton Abbot’s central shopping district as well as regular and reliable source of income.

After Teignbridge acquired Market Walk, steps were taken to brighten the centre up including a thorough clean of the walkways and entrance points. Business start-ups were offered short term lets to run their own ‘pop-up’ shops and Teignbridge acquired the empty Post Office unit in September 2016.