Old bus station site given October start

News Archive > General > Old bus station site given October start

Matt Bond01/07/2009

THE company behind plans to build a landmark development on the site of the former bus station in East Street is aiming to start work on the site in October, the Voice has learned.
London-based Aedifico bought the derelict site (one of 14 key regeneration sites in Newquay) two years ago and has vowed to create a landmark £5 million, retail and residential development.
Despite currently being home to a seasonal fairground, the scheme, titled The Chymbia, has recently been shortlisted for the 2009 Housing Design awards. It is the only South West entrant in an 18 strong award shortlist made up mainly of projects in London.
The Newquay scheme features 28 flats, a 12,000 sq.ft. retail area and underground car parking. It  gained planning approval from Restormel in mid-2008.
Since then, the developer says it has been pushing the scheme forward as much as possible, but blamed the local authority for some of the delay.
"We are talking to Cornwall Council about it to see if there's anything they can do do help push it forward," said Aedifico director Richard Burridge, “(but) we are not getting anything back in terms of a compromise.”
These compromises include a possible reduction in the number of affordable units or a drop in the cost of buying the adjacent toilet block to maximise profit margins for the developer.
Mr Burridge admitted that funding in the current financial climate was, "very, very tight" but said the scheme had the backing of banks and that the company is actively looking for a joint venture partner on the contacting side to take the project forward.
"If this site could be kickstarted with a building of this quality it could kickstart a load of other schemes. We want to put a building there that stands as an icon for long time and that Newquay can be proud of.
"I'd like to deliver a building in 15 months time," he added. “Come October we will see some movement on that site and I can guarantee 100 per cent that we're pushing as hard as we can because we genuinely think it would be a fantastic retail site for somebody."
Talks are ongoing over which retailer may fill the space but he named Marks and Spencer and Waitrose as potential tenants.
"It is a good nine to 12 month long project but come hell or high water we're going to try and push it through," he added.