The partnership allows the council to draw on both firm’s expertise to take forward initially projects that have already been awarded Government funding.

This will include programmes in the Town Deal at Torquay (£22m) and Future High Streets at Paignton (£13m).

Willmott Dixon and Milligan were procured using Pagabo’s Developer Led Framework.

The public private partnership aims to give fresh impetus to the regeneration of the seaside town centres, improve public realm, increase town centre living, and repurpose excess retail and vacant shops.

Cllr David Thomas, Leader of Torbay Council, said: “This is an exciting announcement that will see a step change in our ability to deliver these schemes.

“There are major schemes already under way which show there is huge confidence in Torbay and a bright future for our towns.

“But we know there are challenges and a lot of work still to do, so the Partnership gives a clear signal to everyone that Torbay has an exciting future.”

Chris Wheeler, Regional Head of Land and Development at Willmott Dixon, said: “Willmott Dixon already has a major presence in the region and is currently delivering the Harbour View Hotel in the heart of Torquay for Torbay Council and the four-star Corbyn Head Hotel on Torbay Road.

“In addition to regeneration, the pqrtnership will also give us the opportunity to deliver important social value initiatives throughout the developments that bring tangible benefits to local people in Torbay. This also includes our focus on supporting the ‘local pound’ whenever possible.”