Redruth's £6m revitalisation branded 'a success'
A former industrial town in Cornwall has been successfully regenerated, a recent report has found.
Redruth has been the subject of a four-year programme costing £6m to revitalise five key historic sites and the high street.
Rose Regeneration, an economic development company, reported the High Street Heritage Action Zone (HSHAZ) project had delivered a social return on investment of £2.68 for each £1 invested.
Social return on investment measures the value created by social, environmental and economic activities.
The report found the benefit cost ratio, the relationship between the relative costs and benefits, of the HSHAZ project was 3.78 which it said showed high value for money when matched to government benchmarks.
The programme was funded with £4.4m secured by Cornwall Council and local partners and £1.6m from Historic England.
Rebecca Barrett of Historic England, said: "From imaginative cultural events that have helped to animate the high street, to the repurposing of handsome historic buildings that tell the story of Redruth’s industrial past to provide new community and commercial uses – it’s been a success from start to finish."
Five historic sites in the town have been revitalised.
The London Inn on Fore Street has been brought back into use with commercial units at street level and residential accommodation above and behind
The refurbishment of the Buttermarket cluster of historic buildings, expected to be completed by July, will create a space for businesses and markets
The former Passmore Edwards Library has been converted into a creative and community hub called The Ladder
The building in Fore Street that has been empty for some years since HSBC bank moved out has been bought by a community group and turned into a set of studios for artists and makers
Redruth Civic Centre and Library and Information Service has been moved to Alma Place
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