St Austell property plans receive finance boost

The proposed regeneration of the town centre of St Austell moved a step closer after the Bank of Scotland agreed to finance the plans.

The £77 million redevelopment will focus on the White River Place section of the town, and will provide more than 150,000 square feet of retail space and a number of apartments, Property Week reports.

Gordon Clements, director of real estate at Bank of Scotland, revealed that the site's proximity to a number of popular tourist attractions made it perfect for investment.

He said: "St Austell's south coast location and proximity to visitor hot spots such as the Eden Project and the Lost Gardens of Heligan means it is perfectly positioned to capitalise on the region’s lucrative tourist trade."

Almost half of the retail space has already been let by keen corporations and work has already begun at the site, which is set to be completed in 2010.

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