The future of Cornwall's only airport could be secured as Cornwall Council has entered into an exclusivity period with a potential partner for the future operation and management of the site. The local authority, which owns Cornwall Airport Newquay, said it has been in exclusive negotiations with Adynaton Asset Management LLP over recent weeks.
The aspiration is that they will work alongside Cornwall Council, to bring considerable experience to bear on the airport and the wider site in partnership with the council. The key focus for both parties will be the ongoing and continued operation of the airport whilst seeking ways to enhance services and improve revenue streams to support the operations in the long term.
Cornwall Council has been clear that the airport must stay open and the potential partner is equally clear that they have no intention to close the airport now or in the future given the valuable infrastructure it provides to both the community and nation.
READ NEXT:
Scilly Ferries' plans went from smooth sailing to dead in the water
Work starts on footbridge for town cut off by trains 36 per cent of the time
Alongside the continued airport operations, the proposed joint venture will target the development of the land surrounding the operational airport to bring new, sustainable employment and training opportunities to the area as both see this as a key employment site for Cornwall. Since the Cabinet decision on June 12, both parties have been working together to develop a land utilisation blueprint (LUB).
The LUB will identify new development on the site and set out how the joint venture will help stimulate long-term economic growth, investment in industry and energy and sustainability. Cornwall Council has confirmed there is no intention to introduce residential development on the site.
The LUB will form part of the partnership agreement. This legally binding agreement will define the operational and commercial relationship between Cornwall Council and the potential partner.
Click here to join CornwallLive on WhatsApp. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice.
The expectation is that both the LUB and the partnership agreement will be presented to the Cabinet in the autumn. This will allow sufficient time for the partnership agreement to be negotiated and agreed and for both parties to be able to engage on the LUB with key stakeholders. The engagement is expected to take place in early September.
Portfolio holder for the Economy, councillor Louis Gardner, said: “This the next step in a very rigorous process and means an exciting opportunity to introduce potential significant new funding into the Cornish economy, provide the long-term economic stimulus that the area needs and ensure value for money for Cornish residents, comes a step closer.”
