Plans to attract new investment and jobs to Helston Business Park in Cornwall have taken a step forward following an agreement by the Homes and Communities Agency (HCA) to sell the site to a local developer.

The HCA has sold the 15-acre site to an investment fund operated by businessman David Martin following its marketing of the land to prospective buyers last year. The agreement means Mr Martin will take responsibility for progressing plans to develop space for new businesses on the site.

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The Agency has also agreed an option with local housing provider Coastline to bring forward proposals to develop 18 affordable homes for older people on a small plot to the south west of the site. This proposal is subject to consultation and the approval of Cornwall Council's planning department.

The deal marks a significant milestone for Helston Business Park, which has been earmarked for new businesses and has remained undeveloped since being bought by the South West Regional Development Agency in 2001.

(CD/JP)