Coronation Park is to receive a £316,000 makeover after being returned to the people of Helston and "run by the community, for the community."

Community group South Kerrier Alliance has agreed to take over the running of the park on a 99-year lease from Cornwall Council, which is giving £120,000 as part of the transfer.

Helston Downsland Trust has also agreed to contribute a further £55,000 to the community interest company, which will use other match funding to carry out much needed work on the area.

It is estimated that a total of £316,000 will need to spent in total, with SKA and the Helston Downsland Trust pledging a third between them, Cornwall Council providing another third and the remainder now needs to be found through grants and community support.

The contract includes the lake, the car park outside the Old Cattle Market building built by SKA, the skate park and play park. Also included are the public toilets and a section of the River Cober.

The cafe will still be run by the current leaseholder, but SKA will become the landlord of it, as well as to the boat and cycle hire franchise.

David Turnbull, director of South Kerrier Alliance CIC, said: “Clearly we are delighted that the hard work we invested in developing a community led proposal for management of Coronation Park gained so much local support and that Cornwall Council have agreed to support our plans. To have a local community group, a town council and Cornwall Council work together in such a way is exceptional.

"Coronation Lake and Park is such a high profile, fundamental asset of Helston. It has so much potential for supporting community cohesion as well as developing the visitor economy of the town and surrounding area. It is our belief that the park should be run by the community, for the community.”

A Friends of Coronation Park Facebook page will be set up in the next couple of weeks to keep people up to date on the progress and Mr Turnbull said a public meeting was also likely to be held in April at the Old Cattle Market.

"A big part of it is asking people what they want at the park. I'm hoping we'll have lots of people wanting to be involved.

"One of the first big jobs is we need to raise £100,000. We're working on grant applications but we'll need to have public events and hopefully a friends of the park group to try to raise the balance," he added. "There's still a way to go but it's a really positive start."

He also thanked Cornwall councillor Andrew Wallis, whose division the park falls within, for his "critical role" in driving the bid forward and helping make the SKA's dreams a reality.

Andrew Wallis, Cornwall councillor for Porthleven and Helston West, said: “Coronation Park is a much loved and well used facility not only from residents of Helston, but from the surrounding towns and villages too.

"For me, my ambition has always been about securing the long term future of this area, including much needed investment to bring it back to its former glory; and giving the community more control over how this area is operated. I cannot convey enough how important the park and facilities are to Helston, and the wider community."

He described SKA as having a "proven record" in running projects.

Tim Grattan-Kane, chairman of Helston Downsland Trust, vowed that the management of the park would be "in line with the wishes and demands of local people and visitors."