The future of Buxton’s long-awaited Crescent development looks secure after the final piece of funding needed was agreed.
The D2N2 Local Enterprise Partnership have agreed to provide £2 million for the project as part of an investment package to boost economic growth across Derby, Derbyshire, Nottingham and Nottinghamshire.
The project, to convert the Grade I listed building into a 79-bedroom five star spa hotel has been beset by problems and funding issues, so the news has been warmly welcomed by Labour councillor Caitlin Bisknell, who is also leader of High Peak Borough Council.
She said: “This has been a long time coming - and is a real boost of confidence not just in the scheme but the Buxton and High Peak economy.
“It’s taken a lot of hard work and lobbying by many people to get to this stage – and I am delighted that it has at last paid off. Getting the extra funding agreed by the Heritage Lottery Fund in November was a major boost, this is now the icing on the cake.
“Given that The Crescent lost £5m when the Tory-LibDem government abolished regional development agencies, I think it is only fitting that they have agreed to find the final £2m to ensure the future of this project via the D2N2 LEP (Local Enterprise Partnership).
“As I said last year, this is an extremely important moment for the town – I know many local people have fond, personal memories of the former hotel and baths – and are anxious to see work start on restoring the buildings.”
Commenting on the funding package, which also includes four other schemes across the area, Peter Richardson, Chairman of D2N2, said: “This announcement is further evidence that the delivery of our Strategic Economic Plan has the confidence of both business and government to accelerate economic growth across the D2N2 area.
“We are absolutely committed to positioning this area to compete in the global economy and secure our goal of helping create 55,000 private sector jobs by 2023. The £22m in our expanded Growth Deal will help secure a strong, sustainable and increasingly resilient economy in D2N2, the UK’s most inspirational postcode.”