THE Crescent project in Buxton has been given a funding boost this week after English Heritage ploughed £500,000 into the scheme. The grant is a major boost for the £35m project to transform the Grade 1 listed Crescent and the adjoining Grade 2 listed Natural Baths and Pump Room into a five-star spa hotel incorporating eight specialist shops and a new visitor interpretation centre.
The funding will be used to repair The Crescent and the Pump Room. Work is expected to start on the Pump Room in late autumn after which the building will act as an information centre for the remainder of the project.
The project is being managed by the Buxton Crescent Hotel and Thermal Spa Company, a consortium of the Trevor Osborne Property Group, CP Holdings and Danubius Hotels, in partnership with landowners High Peak Borough Council and Derbyshire County Council.
The funding is a major boost for the project but there’s still a lot of lobbying to be done to make good the shortfall of the £5m grant that can no longer be met by the East Midlands Development Agency.A second bid for the shortfall is due to be made to the Government’s Regional Growth Fund.
Nearly five years ago, the Heritage Lottery Fund awarded £12.5m towards total development costs of the project. The rest of the funding is being met by the company, through HPBC and DCC resources and external grant aid.Follow @pdview