Planning consent has been given for the £4.1 million renovation of Market House, an exciting investment project which will be delivered by The Penzance Regeneration Company.
The Penzance Regeneration Company (PZRC) is a not-for-profit company run by a local volunteer board and which aims to contribute to the transformation of Penzance into a thriving, sustainable community. PZRC is at the forefront of projects revitalizing the area’s economy, heritage, and social infrastructure.
Market House dominates the centre of Penzance and needs to be open all year round as a place for local people of all ages to meet, socialise and enjoy . The old Market Hall on the ground floor will host casual all day dining and street food, with communal tables and an ever changing menu selection. The top floor will be a restaurant with the best views in town. Together they will provide business opportunities for local entrepreneurs, employment for local people and cement the town’s growing reputation as one of the foodie ‘hot spots’ in the South West. Penzance Town Council and partners will use the lower ground floor to offer much needed face-to-face public services for the community.
PZRC’s projects are largely funded by the government’s Town Deal and Future High Streets Funds, with support from Penzance Town Deal Board. Together with investment from the private sector, Penzance now has over £55 million going towards the regeneration of the town.
Some of the Town Deal projects required an entity to buy/lease redundant buildings in Penzance from which to operate projects, thus the PZRC came into being. PZRC’s remit includes the renovation and rejuvenation of Market House, the beloved Grade I listed building in the heart of Penzance. This iconic structure is undergoing extensive renovation to secure its future as a vibrant part of a revitalised town centre.
Susan Stuart, a Director of the Penzance Regeneration Company, said: “This project represents a unique opportunity to breathe new life into an historic building, support local businesses, and create a dynamic space for our community. The renovation will not only preserve a key part of our town’s heritage but also foster long-term growth and prosperity for the local economy.”
Louis Gardner, Cornwall Council Cabinet Portfolio Holder for Economy, said: “Planning consent for the restoration of Market House is a landmark moment for Penzance. It illustrates the dedication of local partners like The Penzance Regeneration Company and how Town Deal is helping to create vibrant and resilient community hubs. Having recently visited Market House, I am very excited to see the Market Hall restored to a space for everyone to enjoy.”
PZRC strives to create a lasting positive impact in Penzance. The company is dedicated to preserving the town’s rich heritage while fostering economic resilience and social well-being.
For more information on PZRC and its ongoing projects, please visit pzrc.co.uk
Market House has received £4.1 million from the government’s Town Deal programme. Penzance Town Deal Board, in partnership with Cornwall Council, successfully bid for a Town Deal worth £21.5 million to support a range of projects that will contribute to the town’s regeneration and boost the local economy. Cornwall Council is the lead authority for Cornwall Town Deals and supports the governance role of the Penzance Town Deal Board and administrates the fund.
