The new gym would be two storeys high and include a ring with spectator seating to allow the club to host competitions. It would also have community space and a cafe to bring in additional revenue.
The club hosts training sessions for under-10s, juniors and adults most weekday evenings.
Josh, 14, from Camborne, said he was excited by the plans for the new gym.
“I think loads of people would come here if it looked like that. I want to be a boxer. Having a better facility will help people get better,” he said.
Kyros, 15, also lives in Camborne and admitted that without the club he would probably just stay at home and be on his phone.
“I think it’s a really good place and it’s better than going out and making trouble,” he said.
“It helps me mentally and if I have any anger during school it helps me get it out.”