The news followed the Government's announcement of £750m for urgent hospital repairs last month.
Joe Teape, chief executive, Torbay and South Devon NHS Foundation Trust, said: ‘We've been very open that the age and condition of our estate at Torbay Hospital is having an impact on our patients, our staff and our ability to delivery high quality care.
‘While we welcome this investment to help mitigate our immediate risks, the need for significant investment in Torbay Hospital remains. We are committed to working together with our staff, patients and local people to deliver the modern hospital that our Torbay and South Devon communities deserve and need.'
The funding will be used for replacing air handling units, refurbishing day and eye surgery theatres, supporting structural remedial works, replacing roofing in poor condition and supporting electricity compliancy works.
Caroline Cozens, director of capital development, said: ‘We are grateful for this much needed investment to reduce our critical infrastructure risk.
‘When we received the news earlier this year that our New Hospital Programme (NHP) would be delayed, we promised our people and communities that we would continue to explore all other funding avenues available to help manage our estates issues and this remains a top priority for us.'
Under revisions to the NHP, construction at Torbay Hospital is not scheduled to begin until 2032-34.