An iconic building in Penzance is set to undergo a major renovation in a bid to create a vibrant new hub for the local community and visitors.

Last year, The Penzance Regeneration Company (PZRC) – a not-for-profit company established by the Penzance Town Deal Board, bought Market House with a vision to revive the much-loved building.

The transformation of the Market House building will be achieved through an extensive programme of repairs to be carried out and paid for by Lloyds and a redevelopment by PZRC of the vacant east end of Market House to create a world-class’ inspired community and food hub using money from the Government’s Town Deal Fund.

Falmouth Packet: The statue of Humphry Davy outside the 'iconic' Market House in Penzance The statue of Humphry Davy outside the 'iconic' Market House in Penzance (Image: Penzance Town Council)The renovation of the building comes after Penzance Town Deal Board along with Cornwall Council successfully bid for a Town Deal worth £21.5 million to support seven capital projects to contribute to the town’s regeneration and boost the local economy by creating jobs, supporting businesses, improving sustainable travel and enhancing local assets.

Market House will shortly be encased in scaffolding which will stay in place until next spring whilst Lloyds repairs the outside of the building.

PZRC has been working with its development manager Treveth; Architects Poynton Bradbury Winter Cole; and design advisor Alison Hemingway on designs and costings for the east-end redevelopment. PZRC hopes to apply for planning permission early next year and start building works in the spring.

PZRC will be holding two public events in Penzance town centre on December 2 and 16 (venue to be advised) to showcase the concept designs for Market House and inform people about what’s planned and how food hubs have helped regenerate other towns and cities. People will also be able to see some vintage images of Market House from years ago.

Susan Stuart, director of PZRC said: “We believe that the Market House project has huge potential to help revitalise the town centre, support new business and benefit the local community and economy, as well as attracting more visitors.

“We invite everyone to join us at our public events and find out more.

“We would also like to take this as an opportunity to capture everyone’s memories of Market House in particular what went on inside, whether that was decades ago or in the last few years in the 1990s.”

For more information on Market House and Towns Fund-funded projects in Penzance and Newlyn visit:  www.penzancetownfund.co.uk