Director’s Doubts Seen in E-mail to Council

Plans for Newquay to have a new shopping precinct as part of a regeneration project, stretching from Manor Road to Mount Wise, were doubted a couple of years ago. Emails between the liquidated development company and the Council have been revealed.

Billed as a major boost to Newquay’s economy, the original development agreement was signed in 2006. Three years later, the UK arm of Irish property developers Howard Holdings went into liquidation.

A Freedom of Information request revealed details of the correspondence between the firm and the former Restormel Borough Council (RBC)

E-mail exchanges showed early doubts over the project’s viability and a belief that the project was not deliverable. Concerns were expressed regarding the Duchy’s planned new 700 properties in town and the number of empty flats sitting unsold since built as well as the derelict sites where planned flats hadn’t been started. The firm felt the proposals relied far too heavily on the second homes market and holiday accommodation. He felt no developer would be able to borrow enough funds from a lender to take it forward – and he then suggested another way forward.

**Archived November 2011**

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