Cornwall Council has given further details over the future operation and management of Cornwall Airport Newquay and its surrounding estate.
Following “a rigorous selection process”, the Council has entered into an exclusivity period with Adynaton Asset Management LLP.
The Council says the key focus for both parties will be the ongoing and continued operation of the airport while seeking ways to enhance services and improve revenue streams to support the operations in the long term.
The airport’s estate includes the spaceport, the Aerohub Business Park, a solar farm and 200 acres of undeveloped land.
Alongside the continued airport operations, the proposed Joint Venture will target the further development of the land surrounding the operational airport to bring “new, sustainable employment and training opportunities”.
Portfolio holder for the Economy, Cllr Louis Gardner, said: “This is the next step in a very rigorous process and means an exciting opportunity to introduce potential significant new funding into the Cornish economy, provide the long-term economic stimulus that the area needs and ensure value for money for Cornish residents, comes a step closer.”
The Council said it hoped to have an agreement and plan to be put forward for Cabinet approval by the early autumn.
