PLANS for a multi-million pound investment to bring a delapidated holiday village near Looe back to life have been announced this week.

London-based development company Espalier is preparing to start work on the first phase of the regeneration of Millendreath Valley and the reinstatement of the once-popular holiday complex by the sea.

The £50m development, planned to take place over five years, will be known as The Millendreath Project. It will begin with the demolition of the former pub and club buildings and the tidying up of the 75-acre site which includes 12 acres of private beach.

Representatives of Espalier have been in consultation with the residents of Millendreath since they bought a slice of the fragmented area in 2006. Their vision was to reunite the whole site under one ownership, which they have since achieved.

There have been consultations with Millendreath Owners' Association, East Side Residents' Association and Kellow Residents' Association.

Rick Gibbs, an Espalier director and shareholder, says The Millendreath Project was his dream which the company decided to take on.

'I admit we struggled to hold on to our investment during the height of the recession, but Millendreath is a unique site and opportunity,' he said. 'We kept our heads down and worked away at developing a master plan for the site and gaining outline planning consent for the first 50 new holiday homes. 

'I am delighted to say we are finally able to begin the valley-wide improvement plan. We are excited to be back on track to improve facilities for all who enjoy being in Millendreath. Having consulted widely, we are clear in our vision for the future to return Millendreath to a high-quality destination/resort and community, building to beyond the standard that visitors to Cornwall expect.

'There is widespread support for the project as a tourism and employment-led initiative. The regeneration of Millendreath is in line with Looe's overall long-term vision to help the local community flourish, which is a vision we share.'

Cornwall councillor for the area Armand Toms is delighted that the development is to begin.

'After almost ten years of neglect at Millendreath things are now going to happen,' he said. 'The area needs the revitalisation which will bring a greatly-improved environment, which is welcomed, and which local residents deserve. I would ask that residents follow further planning applications and if they have any issues to contact me.'

Espalier will be submitting four applications to Cornwall Council Strategic Planning in summer. These include the building of the first ten of 50 holiday units on the hillside site; a new swimming pool; a cafe/bar and shop, and 14 holiday units and one residential unit on part of the demolition site. There will also be improvement work to some of the existing chalets near the seafront in a group of 46 owned by the company.

The firm says it is working with Cornwall planners over issues concerning the chalet site built in the 60s, originally as holiday homes for Welsh miners. Some chalets are now privately owned.

The new development will also include the re-surfacing of the car park, a part of which will be for visitors to the beach, and landscaping. Plans for parts of the green are yet to be fully established. 

All Millendreath residents have received a letter from Espalier's on-site operations manager Sean Hodgson over the last week, telling them that the preparatory works for the future developments are about to begin. Mr Hodgson, who lives at Padstow, will be at the site office five days a week and will oversee the sale of holiday units which will be built to order. 

Both Mr Gibbs and Mr Hodgson have spoken of the 'fantastic' support and help they have received from residents, Cornwall Council planners, Looe Development Trust, Looe Town Council, St Martin's Parish Council and cllr Toms.

'We want to work closely with everyone on this exciting project,' they said.