Developer sought for Isle of Wight regeneration project

Developer sought for Isle of Wight regeneration projectThe Homes and Communities Agency has begun its search for a partner to develop and operate a new 400 berth marina and surrounding waterfront area at East Cowes, Isle of Wight.

Land also included for sale includes the Victoria Barracks building, Albany building and Maresfield Road site which has planning permission for up to 100 new homes, a 60 bed hotel, a restaurant or bar and associated car parking.

The development opportunity forms the latest phase in the East Cowes regeneration project, which has already seen the development of 180 new homes, a Waitrose store, medical centre and new town square.

The opportunity includes the freehold of the Columbine Building which has the world’s largest Union Flag painted on its doors.

The building has an eaves height of 12 metres and benefits from two internal 16 tonne cranes and is expected to be of interest for manufacturing or as a marine service centre.

Paul Flatt, HCA Senior Development Manager, said: “This is an exciting opportunity for a developer with experience in marine and waterfront development to bring forward the next key phase of the regeneration of East Cowes.

“The development of a new marina at East Cowes is a unique opportunity in one of sailing’s most prestigious locations. The HCA has worked hard over a number of years with its partners to enable this opportunity to come about. All the infrastructure and planning permissions are now in place, ready for a developer to start on site.”

The HCA is being advised by Jones Lang LaSalle and Marina Projects. Further details can be obtained from Michael Green or Eleanor Hussey at Jones Lang LaSalle by contacting +44 (0)238 038 5613 or e-mailing Michael.Green@eu.jll.com by 21 February.

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