Kresen Kernow, the proposed new archive centre for Cornwall, has taken another crucial step forward in its development as an important land deal has been agreed with the current Hong Kong owner of the Redruth Brewery site.
Horace Yao, representing Hong Kong Investors, the current landowner, said: “I am delighted to be working together with Cornwall Council to achieve this iconic project. The funding provided by Hong Kong Investors demonstrates a real commitment to invest in the future.
“Our aim is to revive the historic brewery brands back into the site with a microbrewery and to provide residential development as a showcase for ‘green development’.
“Working hand in hand with Cornwall Council provides an opportunity to provide for the next generation and to promote Redruth as an international destination.”
The redevelopment project will see the renovation of historically important buildings on the site, including the Brewhouse and chimney. Alongside this work, there will be a flagship new building to house the archive’s treasures, together with open public spaces and new residential and retail properties.
Julian German, Cornwall Council’s cabinet member for economy and culture, said: “With Cornwall Council investment in both the Kresen Kernow centre and the flood alleviation scheme for the site, this project is a fantastic opportunity to transform this neglected area into a destination that has the potential to attract 12,000 visitors a year to Redruth.”
In May, the Kresen Kernow project received initial support for a £9.8M Heritage Lottery Fund bid, including £387k development funding. The initial funding will be used to develop the project over the next 18 months with the aim of securing a second round pass from HLF at the end of 2014.
The Hong Kong investment includes a transfer of half the site and funding of up to £900k to support the delivery of the overall scheme.
Cornwall Council has committed £5M to the £15M scheme.