PUB giants Wetherspoons will be investing £1.6million in Teignmouth to open a new premises.
It plans to convert a former clothing store into a branch of the popular pub chain.
A spokesman for the firm said when it moves into the town, the business could create around 45 jobs.
The firm has taken on the Tiggs clothing store in Station Road and a pre-planning application to Teignbridge Council has been submitted.
Wetherspoon spokesman Eddie Gershon said: "We are pleased to have been completed on the former Tiggs unit site.
"We have submitted a pre-planning application to the council and are awaiting comments on the scheme.
"We believe that a Wetherspoon pub would be an asset to the town.
"We would be looking to create 45 jobs, a mixture of full- and part-time posts."
In the same week, a new bar and grill, the Bronx Bar and Cue is set to open in Regent Street tomorrow.
The Bronx Bar is taking inspiration from American food and will house a barbecue bar, cocktail bar and sell craft beers.
Owner Patrick Fogerty is looking forward to running the new venture after being behind some of London's top bars and clubs.
He and his wife Dee opened their first bar in London five-and-a-half years ago and hope to enjoy the same success in the seaside town, where Patrick was born and bred. Mike Jackman, Teignmouth Traders Association, said: "Bringing new establishments to the town can only bring in new people. We welcome the new traders. The Bronx will bring something unique to Teignmouth.
"We've lost quite a few bars over the years, we've had 33 in years gone by and are now down to 20. I really think having a Wetherspoons will bring new people to the town and they will soon realise what a great place Teignmouth is."
Emma Kay, town centre development manager for Teignmouth and Dawlish, said: "It is great to see so many new businesses investing in Teignmouth and we are looking forward to seeing the new restaurant Bronx Bar and Cue open in the old South Pacific building.
"We have a great variety of businesses in the town."
