George Eustice, Member of Parliament for Camborne, Redruth and Hayle. has today welcomes the purchase of the former HSBC building in Redruth Town Centre by Redruth Revival and the High Street Action Zone Team. A grant from Historic England to Redruth High Street Heritage Action Zone (HSHAZ) scheme, the efforts of Redruth Revival Community Interest Company and Cornwall Council as the lead organisation for delivering the Redruth HSHAZ scheme with the local community, means that the historic building will be repurposed and brought back to life.
Redruth Revival and the Redruth HSHAZ team have been working together over the last two years to raise the funding for the redevelopment of the Buttermarket complex of buildings, a £3m scheme that will safeguard the use of these historic buildings by local businesses in Redruth town centre. In May 2017, the HSBC closed its Redruth branch on Fore Street as part of a wider closure of 62 branches across the UK, and for nearly 5 years the building has stood vacant in the town centre. When the building was put on the market this February, the Redruth HSHAZ team identified this as a fantastic opportunity to repurpose the building, firstly to support RedruthRevival find temporary accommodation for tenants of the Buttermarket and then, as a centre for the promotion of cycling.
A number of tenants currently in the Buttermarket who will need to vacate the Buttermarket site when building works begin this Autumn, will be accommodated by Redruth Revival in the former bank building. On completion of the Buttermarket project in Spring 2024, the building will then become the headquarters of the newly established Saint Piran Cycling Community Interest Company.
The creation of a hub for the promotion of cycling at all levels, from grassroots to professional elite, has emerged as a result of consultation on developing Redruth as a destination not just for retail, but also for events and activities. It will become a centre for accessing the great network of on and off-road cycle routes and trails in this part of Cornwall, building on the success of the Tour of Britain in 2021. Saint Piran Cycling social enterprise will transform the former bank into a hub for growing grassroots cycling, promoting participation, showcasing both performance and elite cycling to inspire the next generation. The hub will support behavioural change, keeping more people active and healthy into older age, whatever their ability, and it will encourage more people to reduce their carbon footprint. The ambition is also to bring a programme of cycling events and international competitions, including the Tour Series, to Redruth and to attract associated manufacturers, creating employment, training, and volunteering opportunities.
Following the sale, George Eustice commented, “The traditional, 20th century model of retail being the focus of town centres and residential being primarily on the outskirts of towns has run its course. We need to get better at making our town centres more of a mixed space for living and working and improving the public realm and streetscape. The purchase of the old HSBC building is a perfect example of community-led regeneration helping to reshape the prosperity of our town centres and I commend Redruth Revival for seizing this opportunity and taking on another challenge. Thanks to funding from Historic England via the High Street Heritage Action Zone scheme, as well as the efforts of the RedruthRevival directors and Saint Piran Cycling, Redruth will be able to ramp up its reputation as a centre of creativity, enterprise, and home to Cornwall’s only professional cycling team.”
Cllr Barbara Ellenbroek, Cornwall Councillor for Redruth South and Chair of Redruth HSHAZ Project Board added, “I am delighted that an iconic and important part of our town centre streetscape will be repurposed for the benefit of the community and to stimulate investment in Redruth. Creating a hub for cycling from grassroots to professional and elite will inspire young and old to get more active and benefit from improvements to Cornwall’s cycling infrastructure.”
Richard (Ricci) Pascoe, Director of Saint Piran Cycling CIC also said, “This is an incredibly exciting moment for the newly established Saint Piran Cycling CIC and we are delighted to be working in partnership with Redruth HSHAZ and Redruth Revival to transform the former HSBC bank building in the town centre. Over the next few years, we will be establishing the building as the headquarters for Saint Piran Cycling, a hub for managing cycling events across Cornwall and beyond, for growing grassroots and community engagement with cycling. We want to promote fitness, good nutrition, health, and wellbeing through leading a more active life. The Saint Piran brand has an international reach that we will use to attract business interest in Redruth, creating jobs and providing apprenticeship and training opportunities.”
Rebecca Barrett, Regional Director, Historic England concluded, “The banks of Redruth play an important part in the history of the town. We are delighted to have been able to support the acquisition of the former HSBC Bank through the High Streets Heritage Action Zone scheme, so that it can once again play an active part in the busy public life of the town.”