During my resent weekend break in Newquay I found it difficult to find information about the bicycle hire places in Newquay so I though that I would post what I found out while I was in there.
Apparently the only place to rent them is the Shoreline Gifts, located on Fore Street. Hire price is £12 per day and deposit of £50 with an ID is needed. I hired a bike from them over the May Day weekend and found them to be pretty much brand new.
The man in the Tourist Office also mentioned that someone is offering a service of renting bikes which they will deliver to your accommodation. Don’t really know much more about it, sorry.
Hope this info helps someone wanting to hire a bike.