£3 million private/public development begins at Barncoose
Midas Commercial Developments Ltd joined with representatives
from Camborne Pool Redruth Regeneration, Objective One and
Kerrier District Council on Wednesday March 29th to mark the
start on site of a £3 million development at Barncoose
Backed by £1 million of Objective One investment and
private sector investment from Midas Developments, the 43,000
sq ft development of eleven new business/industrial units
is the next crucial step in the regeneration of the area and
is expected to create up to 100 new jobs.
Once completed, existing businesses currently situated alongside
the route of the proposed £3.5 million Barncoose Link
Road will be able to move into two of the new units, leaving
the way clear for work on the new road to begin and a further
200,000 sq ft of employment land to be opened up.
The eleven new units, which will range in size from 4,230
sq ft to 6,006 sq ft, will also provide an opportunity for
local expanding businesses to move out of the town centres,
freeing up sites for further housing and retail development,
in line with Camborne Pool Redruth Regeneration's overall
strategy for economic growth of the area.
Terry Murch, director of Midas Commercial Developments Ltd
said: "We're delighted to be funding this
important project which is the lynch-pin for the continuing
regeneration of the area and the first step towards a new
employment hub for West Cornwall. We've worked closely
with our partners to make this happen and would particularly
like to thank Kerrier District Council for their support in
the relocation of existing businesses. Our financial backing
demonstrates our confidence as a private sector investor in
the employment potential of the area."
As well as attracting local expanding businesses, Midas
is also confident that overspill businesses from Truro, Falmouth
and Newquay will be drawn to the new space due to the lack
of commercial units in and around these towns.
The units have been designed with special green features
to ensure that they are sustainable and energy efficient and
match up to standards being offered elsewhere in the UK. These
features include facilities for cyclists in all units, and
a green travel plan.
New users may also be eligible for assistance from the Regional
Selective Assistance grant scheme.
Carleen Kelemen, Director of the Objective One Partnership,
said: "This is part of a raft of multi million pound
investments supporting the provision of workspace, which is
much-needed across the whole of Cornwall and the Isles of
Scilly. It also demonstrates confidence that the Camborne/Pool/Redruth
area is to play a major future role in the region's
Councillor Mark Kaczmarek, Portfolio Holder for Regeneration
Kerrier District Council comments: "Kerrier District
Council have worked very closely with Midas Developments Ltd
to provide a high quality project to provide local businesses
with the type of accommodation they require and available
on terms that modern businesses are looking for. I also see
it as symbolic of a growing confidence in the areas and willingness
to invest for the future. I would like to congratulate Midas
on the effort they have put into bringing this project to
The units are being built by the St Austell office of Midas
Construction, sister company to Midas Commercial Developments
Ltd and are due for completion in January 2007.
For further information please contact Sarah Gunn or Ruth
Walls on 01752 509581.
For more information about Objective One workspace projects
here to view the Sites and Premises investment cluster
on the Objective One website
The Objective One Programme for Cornwall and the
Isles of Scilly has invested in the Barncoose Employment Space
Regeneration project through the European Regional Development
This project is also an important step towards work beginning
on the £3.5 million Barncoose Link Road which will help
to open up a further 200,000 sq ft of employment land.
Media Relations Manager
Objective One Partnership Office
Truro TR1 2UD
Mobile: 07973 813647
Telephone: 01872 223439