Work has begun to regenerate a former cattle market in Cornwall and create a £4.4million hub for digital and creative industries.
The first phase of work to transform is now underway after the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) supported the scheme with a £590,000 investment from the Government’s Local Growth Fund, which includes funding for preparatory works.
The £4.4million workspace project is being paid for by the LEP, the European Regional Development Fund (ERDF) and Cornwall Council. Work to demolish derelict buildings and structures on site is starting in January 2021 and is expected to last until the end of March.
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The construction phase of the scheme is due to begin in August and will see the creation of a new building, called The Workshed, which will provide 17 flexible units and collaborative workspace aimed at businesses working in the digital and creative industries.
The project forms part of a wider phase of development that will also deliver a new covered market area for the town with high quality public space.
Glenn Caplin-Grey, chief executive of the Cornwall and Isles of Scilly LEP, said: “The first phase of this hugely important project for Liskeard is underway and we are thrilled to see work begin on what will be a very exciting new development for the town and the LEP. It will support Cornwall’s booming digital and creative industries and boost the town centre with the creation of vibrant new public areas that can be enjoyed by the whole community.”
What is the European Regional Development Fund?
Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations.
The Department for Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund.
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The Cornwall Council-led project is due to be completed in September 2022. Once developed, the scheme is expected to add £1.2million a year to the economy and support about 33 jobs.
Sheryll Murray, MP for South East Cornwall, whose constituency includes Liskeard, said: “The investment from the LEP via the Government’s Local Growth Fund and other partners has meant this regeneration project in the heart of Liskeard is now being realised. The scheme will not only support employment opportunities within the town but also transform the areas for community use.”
Rachel Brooks , Mayor of Liskeard, said: “Since the cattle market closed in 2017, the community in Liskeard has been involved in shaping the future of the site.
“There is very strong support for the Workshed and covered market space and we are delighted to see initial demolition work begin. We are looking forward to seeing the project take shape and for it to bring benefit to our town and the local economy.”
The LEP’s investment is the latest from its £78million Local Growth Fund allocation secured from the Government in recent years. More recently, the LEP successfully bid for £14million from the Government’s Getting Building Fund to deliver £59million of projects across Cornwall, supporting 1,100 jobs over the next 18 months as part of Covid-19 economic recovery efforts.