Developer Priority Sites is investing almost £2.1 million in the project to match more than £880,000 from the ERDF Convergence programme.
Four flexible factory units totalling 2,806 square metres will be built to a BREEAM excellent standard on the Treleigh Industrial Estate, making them among the greenest commercial buildings in Cornwall.
Construction is due to start in September and be completed in May next year.
Robert McGuffie, South West senior development manager at Priority Sites, said: “The support of Convergence investment allows us to create four high quality factory units that will be highly flexible to appeal to a range of occupiers. We already have significant interest in two of the units and hope to announce an occupier shortly, and we are interested to hear from other businesses thinking of locating to this part of Cornwall.”
Carleen Kelemen, Director of the Convergence Partnership Office for Cornwall and the Isles of Scilly, said, “This ambitious private sector investment demonstrates continuing confidence in the strength and potential of Cornwall’s economy despite the ongoing changes to our political landscape.”
Carolyn Rule, Cornwall Council cabinet member for economy and regeneration, said, “A prosperous Camborne Pool Redruth is a prerequisite to an economically sustainable Cornwall. This ERDF Convergence investment is helping provide the economic infrastructure that is a vital building block in our private sector led economic revival.”
Neil Lindsey, European Team Director at CPR Regeneration the urban regeneration company for Camborne, Pool and Redruth, said, “It is great to see this development moving forward. We have been working hard behind the scenes to help this scheme achieve ERDF Convergence investment. It is very important that Camborne, Pool and Redruth can make the most of this money to develop a strong economy with sustainable jobs for the future. In this case we are particularly pleased that an expanding local ‘knowledge- based’ business is planning to relocate to this development.”
Ian Whale, infrastructure manager at the South West RDA, which handles applications for ERDF Convergence investment for workspace projects, said: “This is the latest in a string of investments where ERDF Convergence funding is helping to create high quality workspace in Cornwall. Priority Sites has an excellent track record of development and we’re delighted this project is going ahead.”
The units themselves will include a host of environmental and sustainable features such as low energy lighting, aerated taps, leak detection, cycle shelters, solar reflective glass, blinds, high levels of insulation, natural lighting and ventilation, a sustainable drainage system, low flush wcs, upgraded landscaping and biodiversity enhancements.
Priority Sites, which is a commercial development company jointly owned by the Royal Bank of Scotland and the Homes and Community Agency, has a number of bespoke and speculative commercial property developments in the pipeline in Cornwall and currently has high quality office premises available in Falmouth and St Austell.
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