Cornwall attends UKREiiF to announce dedicated pipeline of construction investment worth £10 billion over the next 10 years

Stand L20, Royal Armouries Hall @ UKREiiF

Over £10 billion of capital spend in the next 10 years will be announced by senior representatives from Cornwall Council, Cornwall Trade and Investment and Treveth at UKREiiF.
Cornwall is developing housing stock faster than the rest of the UK and is seeking contractor and supply chain support to realise key development opportunities in the region.
Eight significant development projects in Cornwall over the coming decade, equating to a forecasted capital spend of £10.6bn have been identified by research carried out by Inner Circle Consulting.
On Wednesday 22 May, 3-3.45pm at stand L20, Cornwall hosts a session for investors, funders and developers as it unveils more about the scale of the construction opportunities available.

Senior representatives from Cornwall Council, Cornwall Trade and Investment and Treveth will be attending the UK’s Real Estate Investment & Infrastructure Forum (UKREiiF), 21-23 May, to attract investment for a range of once in a generation development opportunities in the region.

Procurement pipeline project research carried out by Inner Circle Consulting, has qualified eight significant development projects in Cornwall, which equate to a £10.6 billion forecast capital spend in the next ten years. This figure includes £3.4bn on Housing and another £3.4bn on Culture and Economic Development, and some of these opportunities will be showcased at UKREiiF to encourage national contractors to expand their operations to Cornwall and drive economic growth.

Chief Executive of Cornwall Council, Kate Kennally will be joined at the three-day Conference from 21-23 May 2024 by a team of key representatives from Cornwall Council, Cornwall Trade and Investment and its arms length property development company, Treveth, on stand L20 in the Royal Armouries Hall.

Cornwall has attended the UKREiiF since its inception, three years ago. The Conference connects people working within the UK Real Estate industry, with more than 10,000 attendees expected and 700 speakers over the course of the three days.

For 2024, Cornwall is actively seeking discussions with investors and potential partners to support the region’s strategic focus by bringing forward eight key development opportunities that will drive green growth and demonstrate the volume of work, over a longer term, taking place across the region. Committed to creating sustainable and more inclusive and prosperous communities, a Supported Housing Delivery project, to deliver 48,000 new and improved supported housing units across Cornwall by 2050 and valued at c.£82m over 5 years, is one of the key opportunities Cornwall is hoping will be of interest to delegates attending the Conference. A £300m project to deliver a pioneering green community at Langarth Garden Village is billed as a world-class flagship scheme.

Other significant projects that have been ear-marked for development include a c.£300m Cornwall Airport & Estate opportunity, which is one of the UK’s largest designated Enterprise Zones; a £100-200m new transport quarter in Newquay; a commercial development opportunity at Goonhilly Earth Station ranging from £1m-£20m; a £230m Pydar Street regeneration project in Truro; floating offshore wind operations facilities and development at Falmouth Docks, and an ambitious £1m Local Investment in Nature Cornwall (LINC) initiative.

Councillor Linda Taylor, Leader of Cornwall Council said, “The team are really excited to be attending UKREiiF this year, with an impressive pipeline of development opportunities. The figure of £10.6 billion in the next 10 years, is qualified by independent research, so we’re confident this will make Cornwall an attractive prospect for national contractors, consultants and their supply chains to expand their operations and help us deliver our ambitious plans.

“We are developing housing stock faster than the rest of the UK so harnessing the power of Cornwall is essential to the UK’s journey to net zero. Investing in Cornwall means having the space to think big and work with a proactive council to create a real legacy.”

As well as a dedicated stand at UKREiiF, senior members of the Cornwall team will be part of a series of panel discussions and presentations throughout the Conference. Key topics will include an ambitious Public Sector decarbonisation agenda, the importance of the circular economy, delivery solutions for housing and regeneration and where the UK goes next in terms of Devolution.

In addition, Investors and potential partners are invited to visit the Cornwall Stand (L20) on Wednesday 22 May between 3-3.45pm to meet the team and hear more detail about the scale of construction opportunities in the region.

Councillor Linda Taylor continued, “In the last ten years Cornwall has delivered more new homes than Birmingham, Manchester, Leeds or Liverpool, and £900m GVA per annum is generated by Cornwall’s construction sector which represents 7% of the Cornish economy. This offers a coherent and circular economy, and developers and contractors can expect tailored support and a well-resourced, strategic approach to development from Cornwall Council and our partners. “Our team look forward to meeting with investors and potential partners at UKREiiF and unveiling plans to create sustainable communities, enhance key sectors and drive economic growth in Cornwall.”