LDD moves into new purpose built workspace at Tolvaddon Energy Park

On Wednesday 17th June 2015 Large Diameter Drilling Ltd (LDD) officially moved into Kerrek House on the Tolvaddon Energy Park. The new £3.54 million work space investment near Camborne was completed early in the year, involving the purchase of a 1.65 hectare development site and the construction of 2,102 square meters of employment space.

LDD is a high value company specialising in marine, offshore and subsea integrated foundation services, drilling and complex project management and engineering. Originally based in Rosemanowes Quarry, Herniss, the company was looking to expand but was unable to find new workspace with the capacity or status that was consistent with its world leading specialist position in the global market.  The move has enabled them to expand and create additional well paid, skilled jobs in an area that has historically been reliant upon traditional, low paid employment opportunities.  LDD also involves local businesses in their supply chain wherever possible, helping to secure more local jobs in the area. 

Jason Clark, Founder and Managing Director of LDD, said: ‘Moving the business to Tolvaddon Energy Park marks another milestone in the growth of LDD.  Since we started trading from start up in October 2007 the business has grown exponentially, with a turnover of £77 million in the past 7 years.  During that period the business has diversified into specialist offshore lifting and handling.  This created a sister company, LM Handling, in the process and lead to bases in Singapore and Australia.  We now employ over 60 staff in Cornwall alone and it’s largely due to their skill, care, effort and commitment that we are where we are today: the right people make a business and very little else’

The development was delivered by Balanus Assets Ltd.  The European Regional Development Fund (ERDF) has invested £1,833,455 in the project which is providing BREEAM excellent workspace.  The ERDF investment was topped up by Balanus Assets Ltd to the sum of £1,707,387 to meet the total development cost of £3.54 million. Previous ERDF investment in road and service infrastructure on the 11.5 hectare Tolvaddon Energy Park, completed in 2012, provided the opportunity for this proposal.  Conveniently located just off the A30, the modern workspace is bright and airy, incorporating the latest insulation and solar PV technology.

Councillor Julian German, Cabinet Member for Economy and Culture, said: 'These new premises are testament to the demand from local businesses for high quality workspace. It shows how the ERDF programme can work with the private sector to develop the types of quality investments we are looking for in Cornwall to drive the growth of business’ and well paid jobs.'

Robert McGuffie from RJM Property & Development Consultants Ltd said: ‘This exciting project has allowed a fantastic, local company to expand and will provide further growth opportunities for LDD. The BREEAM Excellent scheme is highly sustainable and includes many energy saving features, such as; LED lighting, solar PV, efficient heating systems, solar reflective glass and high levels of insulation that combined together will result in much lower running costs. This type of well designed, high quality and high specification facility has only been made possible through the availability of European money. Without such grant funding the provision of quality business space would be compromised resulting in a shortage of supply and a reliance on older, less sustainable workspace.’

 

Jason Clark concluded: ‘The right business space to support the growth of the business simply wasn’t available in Cornwall, so it’s thanks to ERDF investment that we were able to create this bespoke workspace that is fit for purpose and will allow the business to continue to expand and remain a key player in the global energy and construction sectors.’

 

ENDS

 


Notes to Editors:

Photo: Artist impression of the new building 

Find out more about LDD www.lddrill.com

BREEAM stands for Building Research Establishment Environmental Assessment Method.

Robert McGuffie from RJM Property & Development Consultants Ltd undertook the preparation of the Convergence Grant Funding application on behalf of Balanus Assets Ltd.

About ERDF Convergence

The Project is part financed by the Convergence Programme for Cornwall and the Isles of Scilly 2007 to 2013. The Department for Communities and Local Government is the managing authority for the European Regional Development Fund Programme, which is one of the funds established by the European Commission to help local areas stimulate their economic development by investing in projects which will support local businesses and create jobs.

ERDF €458 million

ESF €196 million

For more information visit: 

www.gov.uk/browse/business/funding-debt/european-regional-development-funding  

Project Investment:

ERDF Convergence: £2,071,083

Fortdown Developments Ltd: £1,530,800

TOTAL: £3,601,883

For more information visit www.erdfconvergence.org.uk


Contact:

Jason Sugden

Media Relations Officer for the Convergence support team

07854 039960

[email protected]

Robert McGuffie MRICS BSc (Hons)

Director, RJM Property & Development Consultants Ltd

Tel: 01726 66922

Email: [email protected]


Tuesday 30 June 2015