One of Camborne's most prominent former industrial sites is set to be transformed by a £8 million investment.

The regeneration of the former Holmans No 3 Rock Drill Works on Trevu Road, which once exported rock drills around the world, will see the best of the historic buildings brought back into use while creating a new energy-efficient neighbourhood.

Simon Williams, managing director of Redruth-based family building firm Percy Williams & Sons Ltd., which has been a part of the consortium which has owned the site for four and half years, said that substantially revised designs for the scheme had been submitted to Kerrier council and he was hopeful that the scheme would now be put to an early planning committee meeting.

The project, which is within the Camborne Town Centre Conservation Area, now takes into account the World Heritage designation for Cornwall and retains further buildings and structures on site. As a result, the number of private dwellings to be built has reduced by some 14%, from 67 to 57, while retaining the original number of social housing units planned for the scheme.

Mr Williams said: "Cornwall county council's historic buildings department carried out on our behalf a comprehensive study of the remaining buildings on the site following designation of the area with World Heritage Status. As a result of that study, structures which were not previously considered to be of any particular value were shown to be important to the understanding of the site's history, and it is this which has prompted the re-design.

"We've now worked very closely with local and national heritage and architectural bodies to ensure that new development respects Camborne's industrial past while looking to the future. These will be high quality, energy efficient homes, and we aim to recycle as much slate, granite and timber as we can.

"This is a major gateway to the town, right next to the railway station and The Cross. Our concern now is that we be permitted to start work before the very buildings we are trying to save crumble away."

If approved the 2.34 acre (0.95 hectare) site would see the creation of 57 high-quality, energy efficient homes including 11 houses, a combination of one and two bedroomed apartments, and live-work units for people to work from home.

There will also be 18 social housing units on the prominent corner of Trevu Road and Trevenson Street and the developers are in an advanced stage of discussions with a local Housing Association to ensure as fast a delivery as possible of these units.

A substantial number of the homes will be in converted live work buildings. There will be parking for all residents on site to prevent parking on neighbouring streets. Further walls, such as those alongside the railway, will be retained to support the Holmans heritage to the area.

Care has been taken to keep one of the most historically important buildings, the Assembly Rooms on Trevenson Street which date from around 1890. These will be converted into private flats and maisonettes.

Discussions have also taken place with the Trevithick Society about the possible use of part of the site for an interpretation centre and home for its replica of Trevithick's famous Camborne road locomotive of 1801, the Puffing Devil.

Also being retained are the former Camborne Radiators building on Trevu Road, parts of the former Manager's Residence and buildings in West Charles Street.

If the plans are approved work on the site would begin next Spring and the entire development would be completed within three years.