Project information

The Old Duchy Palace, Lostwithiel

The Old Duchy Palace's is a 13th Century grade I listed building with intense medieval significance and a rich Cornish history. Our aim is to restore the building sympathetically and return it to the heart of community life by regenerating it as a vibrant and functional space.

upto 2 years for full completion.

Charity information: The Prince's Regeneration Trust

The Prince's Regeneration Trust logo
  • Need

    Need

    After 130 years in use as a Masonic Lodge, the Palace’s return to the open market has threatened its fascinating heritage. Listed Buildings such as the Old Duchy Palace are freqently bought by developers who, on failing to get planning permission, allow them to fall into dereliction, contributing to an increasing cycle of decline amongst the 20,000 buildings deemed 'at risk' in the UK. We aim to stop this cycle of decline and reinforce a cycle of regeneration in places like Lostwithiel.

    Solution

    The Trust bought the Palace in January 2009 to remove it from the open market and initiate the restoration project. We are working in conjuction with the Cornwall Buildings Preservation Trust on the understanding that they will take ownership of the building at a future time. We aim to undertake a lengthy restoration and preservation process, and to facilitate a wide variety of sustainable uses for the building as a heritage site, a community space, office and retail space.

  • Aims

    Aim 1

    To raise the funds to safeguard the Old Duchy Palace.

    Activities

    » Undertake national and local fundraising including applications to local Trusts and Foundations and major grant giving bodies.

    Success will be achieved by raising enough funding to enable the restoration of the building to commence.


    Aim 2

    To ensure an element of public access is achieved and that some community space is provided.

    Activities

    » Part of the space will be available for hire by the community. This area will also include heritage interpretation.

    Success will be achieved by allowing the public to visit the building. This will be through volunteer tours and use of the community facilities.


    Aim 3

    To ensure that the project is viable to enable the surplus to be re-invested in the building.

    Activities

    » Some of the space will be let out which will bring in a revenue stream to the Trusts.

    Success will be realised if a surplus is generated from the income generating activities, which is then reinvested in the building i.e. undertaking on-going repairs and maintenance


  • Impact

    Impact

    The Old Duchy Palace will be safeguarded for future generations through this project. Public access will be available to a building that has been closed to the public for the last 150 years. It will hopefully produce a surplus which can be reinvested in the building as a sinking fund which will be estimated over a 50 year life-cycle of repairs.

    Risk

    The major risks are the failure to secure enough funding to restore the building, the failure to secure planning and listed building consent and the failure to secure tenants for the space.

    We are making a number of grant applications and have secured roughly two thirds of the capital required and need a futher £200,000 to raise the entire project funds. We are working with English Heritage and the Council to sympathetically restore the building and we will advertise for tenants.

    Reporting

    We will report to donors through updates on our website and also through our quarterly newsletter. We will prepare individual reports where required by major grant schemes.

  • Budget

    Budget - Project Cost: £600,000

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      Amount Heading Description
      £350,000 External repairs Undertake repairs to the historic fabric
      £180,000 Internal rapirs Undertake internal fit out and upgrade of services.
      £70,000 Fees and developmen costs Cost of consultants and architects and other development costs

    Current Funding / Pledges

    Source Amount
    Private donor £200,000 Guaranteed
    English Heritage £100,000 Guaranteed
    Other £100,000 Conditional
  • Background

    Location

    The Old Duchy Palace is located in Lostwithiel, Cornwall.

    Beneficiaries

    TBC

  • Why Us?

    Why Us?

    The two Trusts are set up as building preservation trusts to ensure the safeguarding and restoration of heritage buildings. New uses are found to ensure the long-term sustainability of all our projects is achieved. We generally support mixed use schemes to enable an element of public access, community use and income generation.

    Read more about the Charity running this project.

    People

    Rosie Fraser

    Commercial Director and project board member for the Prince's Regeneration Trust.

    Simon Thorpe

    Chair and project board member for the Cornwall Buildings Preservation Trust.