An ambitious scheme worth almost £13.5 million to build offices and industrial units in Redruth and create more than 170 jobs has been approved for ERDF Convergence investment.
More than £6.6 million of ERDF Convergence has been approved for The Barncoose Gateway Project at the entrance to the Barncoose Industrial Estate with project developers Practical Developments (South West) Ltd contributing the remainder of the investment.
The scheme represents one of the largest speculative employment space schemes to be undertaken in Cornwall. It involves the construction of nine office and hybrid/industrial units on a 1.37 hectare site in close proximity to the A30. It has direct access to the Barncoose Link Road (that was part-funded by the previous Objective1 Programme) which now provides the eastern entrance of the Barncoose Industrial Estate.
The units have been designed to a high quality, setting a new benchmark for employment space development and are constructed to a BREEAM “Excellent”’ standard – a measure of environmental sustainability. It is estimated that once the buildings are fully occupied, 171 jobs will be created by 2015 with a further 82 safeguarded.
Bob Pepper, MD of Practical Developments (South West) Ltd, said: “We are absolutely delighted to have been awarded the Convergence Funding that will assist with the delivery of this exciting new development for Redruth.”
Carleen Kelemen, director of the Convergence Partnership Office for Cornwall and the Isles of Scilly, added: “This significant investment, one of many around Cornwall where Convergence is supporting the creation of high quality workspace, will create jobs in an area that has been the focus of years of strategic economic regeneration planning.”
Project Managers for the scheme are Truro-based Business Location Services Ltd and MD Russell Dodge commented: “This will be the largest single private sector convergence funded employment space project in Cornwall and will provide a new generation of low carbon buildings. The development will provide high quality buildings in a gateway location at the entrance to the Barncoose Industrial Estate.”