CORNWALL COUNCIL - PYDAR STREET, TRURO REGENERATION
Pydar Street: A vibrant and thriving core within the community for Cornwall
4 Hectare site for regeneration
£150m mixed use regeneration scheme
secured universal backing from Council
Secured executive approval to the Startegic Outline Case
“ICC have taken a good strategic approach to our project. Mix that with strong management and a detailed approach, which are all really important, and ICC matched exactly what we needed.
I like the way ICC work. They applied their collective intelligence to the project with us in Cornwall and have a level of intellect that is not evident in other consultancies."
Phil Mason, Service Director
In 2017 Cornwall Council created a £1.2B investment fund to leverage the Councils position as the strategic authority and secure a long term financial return. The majority of this funding would be deployed in property development.
The largest such project is a 4 hectare site within the centre of Truro that had to balance the requirement for an investment return with respecting the sensitive nature of the site and the councils demands on its usage. Our role was to support the council and help define the development opportunities for the Pydar Street site.
Cornwall Council had taken a strategic decision to be more involved in developments within Truro, assuming responsibilities over and above those of a normal Planning Authority. Any new development within Truro was to be driven by place making and led by an increase in quality and greater connectivity between different parts of the city.
With this in mind, Cornwall Council assembled a 4 hectare site within the centre of the city and identified this for regeneration. The challenge facing the council was what should they build on the site that would enhance the city.
Our role was to support the council and help define the development opportunities for the Pydar Street site. We were also appointed to act as Programme, Project and Development Managers and in this capacity our team helped the council to define their aim.
We utilised our CIM tool to run a Socio-Economic Analysis and as a result, we guided the client to recognise that the City Centre should be the key driver for Truro and that the city will not function without a vibrant and thriving core. The Pydar Street Site – as part of a network of other key anchor sites within Truro – has the potential to be the catalyst for the realisation of this inclusive and visionary delivery plan for Truro. Pydar has the potential to create a £150m mixed use regeneration scheme.
We became involved as development managers at the embryonic stage of this project while the Council was introducing new structures and procedures related to property investment and large scale regeneration programmes. This project therefore became the prototype for the new approach.
We worked with the County and highly influential town council to bring forward development proposals that were acceptable to both parties. We utilised our Community Impact Model to quantify and project the Socio-Economic benefits of the scheme and this helped Cornwall Council recognise that the City Centre should be the key driver for Truro and that the city will not function without a vibrant and thriving core. The Pydar Street Site – as part of a network of other key anchor sites within Truro – has the potential to be the catalyst for the realisation of this inclusive and visionary delivery plan for Truro. The projected construction cost of the scheme is £150m
We have so far achieved the following outcomes:
Secured executive approval to the Strategic Outline Case, releasing funding for an outline business case and outline planning application.
Secured universal backing for the development from the County Council, Town Council and local community
Secured interest from some exceptional local businesses that are now seeking to occupy the development
Name of the project