The manor of Great Torrington was granted by Queen Mary to James Basset (1526-1558), MP, a younger son of Sir John Bassett (1462 - 31 Jan 1529) of Umberleigh. James's son Philip Bassett sold it to Sir John Fortescue (c.1531-1607) of Ponsbourne, near Hatfield, Hertfordshire, the eldest son of Sir Adrian Fortescue (1476–1539), descended from Richard Fortescue, younger brother of Sir Henry Fortescue, Lord Chief Justice of the Common Pleas in Ireland and of Sir John Fortescue (ca. 1394 - ca. 1480), Lord Chief Justice of England and Wales. Denys Rolle (1614-1638) of nearby Stevenstone in the parish of St Giles in the Wood, acquired the lordship of the manor of Great Torrington from his descendant Sir William Fortescue. Denys Rolle (1614-1638) founded the Bluecoat School in Torrington.
The fountain and clock in the square were given in 1870 by Mark Rolle (1835-1907).
Many family portraits were given to the town by the heirs of Mark Rolle, some of which remain on display in the Guildhall, some of the more valuable ones having been sold, most notably the portrait of John Rolle Walter (c.1714-1779) by Pompeo Batoni.
There were Iron Age and medieval castles and forts in Torrington, located on the Castle Hill.
Great Torrington had strategic significance in the English Civil War. In the Battle of Torrington (1646), the Parliamentarians, led by Sir Thomas Fairfax, swept into the town and defeated Lord Hopton's forces. This marked the end of Royalist resistance in the West Country. Today the town is recognised as an important heritage centre for the history of the 17th century, and its people can often be seen dressed in costume for historical re-enactments, festivals and celebrations. An interactive Civil War Experience, "Torrington 1646", marks the town's historically important role. The Torrington jail was not big enough for more than one man so the Royalists kept all the Parliamentarian prisoners in the church. Then 70 barrels of gunpowder went off and killed everyone held captive and many of their captors.
Visitor attractions include:
- Dartington Crystal, Factory, Visitors Centre, Glass Shop and Restaurant of Dartington Crystal - the biggest employer in the town and the only major working glass factory in the UK.
- Rosemoor Garden, a collection of gardens, woodlands and parkland owned by the Royal Horticultural Society.
- A Victorian pannier market with a glass roof, restored in the early 2000s.
- Great Torrington Heritage Museum, located next to the pannier market.
- St Michael and All Angels, an Anglican church whose grounds include a mound said to contain the remains of 60 Civil War Royalist prisoners.
- The Plough arts centre, a small theatre, cinema and gallery.
- Great Torrington also has a selection of pubs selling food and a selection of real ales. These include The Torridge Inn, The Black Horse, Torrington Arms, Cavalier, Globe and Royal Exchange. Torrington has a small brewery called Clearwater Brewery with its "Cavalier" and "1646" brands.
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