Pirate FM News

Keep up to date with the latest news delivered direct to your Inbox.

Supermarket Could Mean New Stadium

stadium 2
Delicious Submit this page to reddit

6:01am 22nd January 2014

A stadium for Cornwall could be bankrolled by a big supermarket.

Developers have shown plans to secure funding for the ten thousand seater arena to Pirate FM - and it could mean a big new store next door.

Inox Group already has planning permission for 1,500 homes at Langarth Farm in Truro, now it is hoping an option for another 35 acres on adjoining land could revive the massive project.

It could include a supermarket, petrol station, cycle track, sports pitches, leisure facilities and some housing, with proceeds being ploughed into the stadium project.

Inox Managing Director Rob Saltmarsh said: "In 2010 Inox committed to assisting with the delivery of the Stadium for Cornwall by securing planning permission and providing the land for the stadium - this we have now done. Given the continued pressure on the public purse we have now further committed to try and source private funding for what we believe is an incredible project that would be a major asset for the whole of Cornwall.

"Over the Christmas period we secured an option on 35 acres of land adjoining Langarth Farm, with the intention of seeking planning permission for enabling development on the site to help fund the stadium project.

"Other areas of funding have been exhausted over the past few years and although I am sure there will be both critics and supporters of this approach, the blunt reality is that without public funding we have no other option but to pursue commercial funding avenues that we are advised have the potential to generate the millions required to make this project happen. If the stadium is ever going to happen, then some commercial reality needs to be injected into this process.

"We have recently appointed global real estate experts Jones Lang LaSalle to advertise the site formally on the open market and gauge commercial interest. Very encouraging discussions have already been had with several high profile interested parties."

Mr Saltmarsh said the funding options would be a lot clearer in the coming weeks and if positive Inox would look to hold discussions with Cornwall Council and potential stadium tenants the Cornish Pirates RFC, Truro City FC and Truro and Penwith College, with the aim of submitting an enabling development planning application in the spring of 2014.

He added: "What is becoming clear from our discussions with Jones Lang LaSalle is that the very high values created by food retail are likely to be required to enable a private sector led community stadium to come forward. Similar projects have been recently approved in York and Leigh, both of which involve retail enabling development. It is Inox's intention that the net proceeds of monies gained from any enabling development consent will go directly towards the stadium project delivery, and we would sign a legal undertaking to this effect.

"Grant funding is also being explored with Cornwall Sports Partnership who have contacted various sporting Governing bodies and Inox are also looking at other central government grants that may further assist with the project's delivery and also help create a wider 'sporting hub'. We are also keen to hear from local sporting clubs and societies who may wish to become involved in this new phase of the project."

Stadium For Cornwall

Peter Marks, chairman of the Stadium 4 Cornwall Group, said he welcomed the Inox initiative: "The Stadium for Cornwall Group has been working hard with developers Inox over the past few months and we are fully supportive of this private sector funding approach.

"The previous full council voted against the use of public monies to help fund the community stadium and it was made clear that the private sector needed to find a solution. This latest news shows the stadium project is alive and kicking and a potential private funding solution is possible, but for the enabling development to happen, the support of Cornwall Council will be required.

"It remains the view of S4C and thousands of people in Cornwall that a community stadium must be a top priority for Cornwall."

Dicky Evans, Cornish Pirates chairman, said: "Despite the delays and hurdles in the way over the last few years, the Cornish Pirates are pleased to confirm that they remain fully committed to supporting the proposed Stadium for Cornwall at Langarth, Truro.

"Without such a facility the Pirates are unable to move forward in their quest to improve sporting standards in Cornwall and especially on the rugby field.

"It is galling to see local players continue to move out of Cornwall to improve their prospects of top class rugby and this talent drain can only be halted by the provision of such a facility.

"We have worked with Inox for several years and have reached a point in planning and development whereby the funding of this facility is the only real roadblock left, and we are pleased to see the ongoing efforts being made to attract private sector investment to ensure that the project can proceed.

"We look forward to sharing this facility with organisations such as Truro & Penwith College as well Truro City Football Club."

Charles Kislingbury, Lead Director at Jones Lang LaSalle in Exeter, said he was confident of very strong retailer and commercial developer interest and said: "Jones Lang LaSalle is delighted to be involved with this exciting project and the potential that it brings to raise the funding to realise the Stadium for Cornwall."

Tom Miklausic of Jones Lang LaSalle London Retail and Leisure department, added that food retail offered the greatest opportunity to generate the capital required to build a high-spec Stadium for Cornwall: "The market research we have undertaken attributes the highest value to food retail which will be an essential component if the maximum amount of funds are raised to enable the stadium to be built to its full potential."

Rob Saltmarsh from Inox added: "Inox continue to be proud main sponsors of the Cornish Pirates and remain fully behind their drive for premiership and European rugby, but a stadium for Cornwall has to go well beyond the ambitions of one club and we firmly believe that this project has huge potential for the entire community of Cornwall, providing first class education and sporting opportunities as well as conferencing and hospitality facilities to rival the best in the region."

6:01am 22nd January 2014

Share This Story

Delicious Submit this page to reddit
Suggested articles
foals

WATCH: New Eden Sessions headliner revealed

The indie-rock band will perform at the biomes in July

milo penzance cat 3

PHOTOS: Cornwall's popular supermarket cat dies

Tributes flood in for Penzance 'Tescat' Milo

Most read
car at porth

PHOTOS: Car crashes onto Cornish beach

The air ambulance has landed at Porth

a30 diesel spill

UPDATE: Diesel spill blocks busy Cornwall road

A lorry reportedly hit a manhole on the A30

Top articles

Pirate FM Cornwall News Update - 7th January 2016

Cornwall Video News: Officials say they’re holding talks to find new jobs for hundreds of workers in Bodmin.

Khalid Masood: Everything we know about 52-year-old Westminster attacker

National News: The Westminster attacker has been named as 52-year-old Khalid Masood, who had a range of previous convictions.

UPDATE: Body found on popular Cornish beach

Cornwall News: Police say death at Watergate Bay 'isn't suspicious'

Loving director Jeff Nichols plans new indie film festival

Showbiz News: The director of the Oscar-nominated movie Loving has announced plans to launch his own independent film festival.

Man tries to drive into shopping street at high speed in Antwerp

World News: A man who tried to drive at high speed into a pedestrianised shopping area in Antwerp has been arrested by police.

Sizing John, ridden by Robbie Power, wins the Cheltenham Gold Cup

Sports News: Sizing John, ridden by Robbie Power, has won the Cheltenham Gold Cup ahead of Minella Rocco and Native River.

Nicole Kidman explains her Oscars 'seal clapping' was to protect a ring

Strange News: Nicole Kidman has explained her "awkward" seal-like clapping during the Oscars ceremony last month.

Newer article

70 China Clay Jobs Could Go

Cornwall News: Imerys reveals plans to restructure and admits it expects job losses

Older article

Alverton Manor Fire

Cornwall News: Emergency crews battle flames at historic Truro hotel

Cornwall's Pirate FMPirate Extra Footer LogoEscape to Cornwall radioLoveCornwall.com - The Cornish Business DirectoryPirate Education and Training

 

© Copyright Pirate FM

Pirate FM cannot be held responsible for the content of external links.