THE new owner of one of Teignmouth's most prominent buildings, the seafront Riviera, has said he wants to invest in even more properties.

The buyer, Ralph Brown, has several property investments in Teignbridge and across Devon. His wife Vicky recently took over the seafront Beachcomber cafe.

In an exclusive interview with the Post, the 44-year-old Newton Abbot- born entrepreneur described the 183- year-old Grade 11 listed Riviera – thought to have been bought for a figure approaching £1m – as a 'terrific building', full of history, and he was proud to have bought it.

He said he thought Teignmouth was 'on the up' and insisted he had no qualms about acquiring the Riviera, wanting to ensure it remained a landmark building.

'I am in this for the long haul. I never sell any of my investments – I keep them for life,' he said.

'The Riviera is in a fantastic location, and Teignmouth is one of the best resorts in south Devon. Teignbridge Council have done a marvellous job with the seafront play park and the mini golf, and the town is definitely going forward.

'The seafront is now a delight and very tidy, and drawing people in. The future of Teignmouth is so good, I am looking at other investments here.

'I carried out a lot of research before taking on the Riviera and am confident the town is on the up.'

Mr Brown said he was actively looking for somebody to take on the lease of the former Carlino's cafe on the ground floor of the Riviera, and operate it to a high standard. There had been a lot of interest, and he was confident it would be open again within four to eight weeks.

He had an open mind over what use the old 450- seater cinema auditorium could be put to.

'It does need a lot of money to refurbish it – between £200,000 and £400,000. I am open to ideas from the private sector, and even the council if they would like to take a lease on the auditorium.

'My personal preference would be to retain is as a cinema-theatre, to contribute something to the town. But it could also be used as a conference centre, a large pub, a dine and show venue, a gallery and a host of other ideas.

'The rent would obviously reflect the amount of work that needs to be done, and I would welcome any suggestions or propositions. Depending on any deal, I might be prepared to complete the refurbishment.'

Mr Brown is also negotiating with different owners to buy the luxury flats on top of the building.

The Riviera was acquired by developer Hugh Bromage, who spent nearly £2 million on restoring most of the building to its former glory, before going bust nearly a year ago.

Mr Brown thought Mr Bromage had not been given enough credit for his work on the premises.

'He did a really good job to preserve a part of Teignmouth's heritage, and the town should thank him for that. Unfortunately, it had a sad ending for him,'

One reader contacted this newspaper to ask why Teignbridge Council had not acquired the Riviera, because it would have been a good investment and might have been an alternative to spending a lot of money on re-developing the nearby Carlton Theatre.

Cllr Alan Connett, the Teignbridge leader, said it monitored the progress of the Riviera. As a last resort, to prevent it deteriorating and becoming an eyesore, the council might have been prepared to step in and buy it.

He said: 'There would have been complications if the council took it on, including the use of the auditorium, because the Teignmouth Players are adamant it would not be suitable for them.

'This is a landmark building, and I am pleased that somebody from the private sector has bought it. We believe that things are moving at last in Teignmouth.'

Cllr Sylvia Russell, who lives on the seafront, also welcomed the new ownership, and added: 'If we can have an auditorium into the bargain, that would be the icing on the cake. It would be great to have some glamour in the nightlife of the town.

'It is a quality building, and I hope whoever takes over the cafe ensures it is stylish.'

Tony Noon, of Exeter-based Aaron Fox, who negotiated the purchase, said they were now looking tenants for the cafe-bar complex at a rental of £18,500, plus a small retail unit at £4,250. He was also happy to discuss ideas for the auditorium, and can be contacted on 01392 204303.