£31.5 million has been invested in the project by the South West of England Regional Development Agency (RDA) with the remainder of funding coming from David McLean Developments.
Over the last six weeks, the RDA’s demolition contractor Gilpin has been stripping out the inside of the building, which has now been completed. The removal of the cinema roof should take two weeks.
After that, it will take until early December to fully demolish the building. A brand new state-of-the-art four-screen cinema will be built on the north side of Aylmer Square by autumn 2008. Once complete, the building will be handed back to the cinema owner David Williams for fit out.
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Sir Robert McAlpine has now taken possession of the site ready for the main phase of the project on behalf of David McLean Developments.
Ian Whale, Cornwall Regeneration Manager for the South West RDA, said: "Work is gathering pace and the team on-site are making real progress and reaching key milestones now. The project is well on course and people will be able to follow the changes, as they happen.
"Viewing areas are being provided in the hoardings to give everyone the opportunity to see the developments. There will also be regular updates on the St Austell town website www.staustelltown.co.uk, at the Engine House and in the former Curry's store."
The retail development has now been renamed 'White River Place', helping to position St Austell as the flagship town in the region. Over 50 per cent of the retail units have already been taken. Retailers include Starbucks, New Look and Peacocks as well as high street bank HBOS and home and garden giant Wilkinsons.
The scheme will be completed in 2009 and also includes bars, restaurants and cafes, a 550-space underground car park and 70 apartments - 30 per cent of which will be made available as affordable housing for local people.
Up to 200 people will be employed during the construction phase and the RDA will ensure that local materials and labour are used wherever possible. This means tens of millions of pounds of the scheme’s costs will be recycled into the Cornish economy.
(JM)
