A turning tide in Cornwall?

2009 might just prove to be Cornwall's year. There is no doubt that the property market has been suffering on a regional and national scale over recent months, but Cornwall is seeing unprecedented investment and a number of developments are coming online within the next year.

This autumn, one of the only purpose built shopping centres to be launched in England this year is to open in Cornwall. The 155,000 sq ft White River Place forms part of a £75m investment in St Austell town centre and is being delivered jointly by the South West RDA, who have guaranteed £31.5m for the project, and private developer, White River Developments. It spells very good news for the county's largest town, which has often been overlooked in favour of Truro, Penzance and Newquay.

As part of the mixed-use scheme, a four-screen cinema opened in December, welcoming 50,000 visitors in its first four months. In June, Cornwall's first Frankie & Benny's opened immediately adjacent. Retailers including New Look, Bonmarche and Peacocks have already signed up to the scheme, whilst Wilkinson has committed to a 40,500 sq ft store, one of its biggest in the UK. The key has been in the provision of larger modern units that suit many national chains’ accommodation requirements.

With the likes of The Cornwall Hotel, Spa and Estate being constructed in Tregorrick, providing what is tipped to be the first five star hotel in the county, not to mention the news this summer that the China Clay Town has gained Government approval for one of the first four eco-towns in the UK, it seems there may be plenty more good news to come for Cornwall this year, on into 2010 and beyond.

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