LISKEARD'S Webbs Hotel has at last been sold, and is to be turned into a nightclub with a cafe and bar, an investment of £500,000, on top of the purchase price, which could soar to £1m when the re-development is completed.

The contracts were exchanged on Wednesday, and the good news has been heralded as the turning point in the town's struggle to regenerate itself over the 11 years the hotel has remained closed and empty.

The new owners are a partnership which comprises Jamie Brown, who is already well known locally for his successful development of other businesses in the area, Nick Barber, a high profile London restauranteur, and Keith Stiles, also from London, a property developer and surveyor.

The partnership, which has purchased the delapidated Georgian building without grant aid, from Midlands toy factory owner, Michael Austen, are hoping to proceed at a breathless pace which could see Webbs open for business by this September.

Speaking exclusively to the Cornish Times yesterday, Mr Brown said the first and foremost intention is to restore the exterior of the building. 'We want Webbs looking as it should' he said, 'Work on a complete facelift is to begin almost immediately. The eyesore of Liskeard is going at last'.

Mr Brown explained that the development will take place in stages to prevent the town centre from resembling a building site. He said the nightclub will be developed first on the ground floor, and rather than setting up in opposition to anything that Liskeard already has on offer it will provide a new and alternative entertainment venue.

Subject to change of use permission from Caradon planners, the next step is to create a cafe and bar which will be part of the club but also a separate unit to be used both day and night. Mr Brown says he would like to develop this with the addition of tables and chairs outside the building but stressed that nothing would be done which went against planners wishes or the community itself.

'We realise a lot of money has been invested in the town centre regeneration' he said, 'and we want to fit in. We are looking for consultation'.

The second and third floors have been described by Mr Brown as an open book. He said once the building was 'alive' again he believed people would come to him with ideas. He said office and residential use has been mooted but hotel accommodation has not been ruled out.

Praise from Mr Brown has been levelled at Jane Pascoe of Liskeard Chamber of Commerce in particular, and also Caradon Council and councillor Tony Powell. 'They have been supportive and helpful' he said.

Mrs Pascoe has expressed her delight at the sale. 'The prime site in Liskeard will no longer be redundant' she said. 'I am certain that Caradon will see the merit in supporting and encouraging the new owners in fulfilling their exciting project, particularly as Webbs is the lynch pin to the town's regeneration strategy'.

Councillor Powell said he knew of no other news which would do more for morale in Liskeard. 'I believe it will act as a catalyst which will drive forward other projects now in their early stages' he said. 'Liskeard is about to lift off'.