In 2006 West Somerset Council secured European Regional Development funding worth £138,380 for the enhancement and regeneration of Watchet Esplanade. The council wanted to repurpose the area to include farmers market, stalls holders and an area for live performances and to attract people to the town which could only be good for local business. Other enhancements included new paving, railings lamps planters and 8 new urban trees all to be enjoyed whilst relaxing on the new curved seating overlooking the marina reminiscing on what was once a thriving industrial port.

Eight Quercus ilex (Evergreen Oak) trees were planted in tree pits on the Esplanade, these would thrive in the salt air. Thee trees were planted in 2007.

Now the results speak for themselves a wonderful, attractive, yet tranquil setting that buzzes with activity on market day and during town events.

A statue of Yankee Jack, commissioned by Watchet Market House Museum Society is a welcome addition to the Esplanade. It was unveiled by Margaret Norman in March 2008. Margaret is the widow of Ben Norman who was the main instigator of this project, a founder-member and past curator of the museum, local historian and author.

A statue of The Ancient Mariner, commissioned by Watchet Market House Museum can also be found on The Esplanade. The  seven-foot high effigy of the mariner was designed and created by sculptor Alan B. Herriot, of Penicuik, Scotland, cast by Powderhall Fine Art Foundries in Edinburgh and unveiled by Dr. Katherine Wyndham in 2003.