COUNCIL chiefs have entered into an exclusivity period with a potential partner for the future operation and management of Cornwall Airport Newquay and the surrounding 650 acre estate after a rigorous selection process.

Cornwall Council’s potential partners are Adynaton Asset Management LLP who are specialist asset managers of complex sites and operational airports both in the UK and in mainland Europe.

The aspiration is that they will work alongside the unitary authority to bring considerable experience on the airport and the wider site.

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 says it 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.   

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.

Both parties have been working together to develop a Land Utilisation Blueprint (LUB) since the cabinet decision on June 12. 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. 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.  

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 Cllr 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.”

Councillors and business leaders have previously called for more transparency over Cornwall Council’s partnership plans.

They argue it is wrong the deal was made behind closed doors as the airport plays a vital lifeline for tourism, transport, and the local economy.