The partnership aiming to build the Stadium for Cornwall on the edge of Truro is reporting significant retailer interest in the scheme that will bankroll the £10 million Stadium’s construction.
Truro and Penwith College, The Cornish Pirates, Inox Group and Henry Boot Developments are working in partnership to deliver the multi-use stadium at Langarth.
The intention is to use the proceeds of a retail-led development at West Langarth near the Stadium site to fund the construction of the facility, which would have an initial 6,000-seat capacity, but capable of being extended to 10,000.
West Langarth was approved by Cornwall Council at the end of July last year subject to a legal agreements. These are expected to be finalised shortly, which will mean a planning consent can be issued.
Tim Edwards from leading UK specialist retail property agency Morgan Williams, who are the agents for West Langarth, said: “We have a formal offer already in place for one unit and are in detailed dialogue with a number of other prospective tenants. To date we have received sufficient registrations of in principle interest to pre-let the whole retail terrace, which is the heart of this exciting scheme. But crucial to these talks progressing is finalising the Section 106 legal agreement and securing the planning permission.”
Julian Painter, director at Henry Boot Developments, added: “The legal agreements with the council have been complex because they are dealing with a number of retail projects, but we are optimistic that we will have a consent soon. Despite the delays we have actively marketed the retail enabling scheme and have had significant end user interest which reflects our initial development appraisal work and the level of rent and interest expected.”
Rob Saltmarsh, managing director of Inox Group, said: “We continue to push very hard to make the stadium a reality and I am confident it will be built. The level of retailer interest is hugely encouraging and it’s no surprise they won’t fully commit until we have a valid consent in our hands. In the meantime we have substantially agreed the Section 106 agreement with the Council. This legally secures the construction of the Stadium from the proceeds of West Langarth.”
As well as a home for the Cornish Pirates, the Stadium for Cornwall would include a permanent base for Truro & Penwith College’s business centre, elite sport and hospitality and catering teaching facilities, with a training kitchen and restaurant, open to the public.
There would be a 200 capacity conference centre, meeting and function rooms, offering a platform for business and cultural events, including trade shows and fairs, as well as a venue for private parties, functions, weddings and concerts
Ian Connell, chairman of the Cornish Pirates, said: “The stadium is a vitally important to the Cornish Pirates and a critical part of our future plans to bring Premiership and European rugby to Cornwall. Exeter Chiefs have demonstrated what can be achieved when high quality facilities are delivered and Sandy Park now provides a platform for youngsters to showcase their talents to a national audience. The Stadium for Cornwall will provide access for the entire community of Cornwall and will be capable of hosting an array of different organisations and clubs. The Stadium cannot happen soon enough now.”
Martin Tucker, director of Truro and Penwith College, added: “The College remains 100% committed to ensuring the delivery of the Stadium for Cornwall. Alongside the obvious sporting benefits, the stadium will provide conferencing, banqueting and educational training facilities, which will allow the College to expand its presence in Truro and Cornwall within a unique and high quality setting that presently does not exist in the Duchy.”