Major improvements are being carried out at East Cowes’ Venture Quays site as part of ambitious plans to create a new marina to support the regeneration of the area.
Around £2m is being invested by the Homes and Communities Agency (HCA) in upgrading buildings and improving services on the site, with work expected to take place over the next six months.
Improvements include repairs to the roof of the Columbine Building, provision of electric, phone and utility services to each building on the site and improvements to the apron where K1 Britannia is currently located to attract new marine businesses to the area. Improvements to nearby Maresfield Road, Columbine Road and Castle Street will begin in September.
This forms part of wider plans to create a new 300-berth marina at East Cowes, which will comprise a public landing facility, hotel, restaurant, up to 100 new homes and car parking. The HCA, which owns the site, will begin a tender process to appoint a developer partner to deliver this ambitious project later this year. An appointment is expected to be made by next summer.
This progress follows a recent £3.16m investment by the HCA in Cowes Harbour Commission’s Outer Breakwater project, which will provide a new 400m-long barrier to offer marine craft and the local area extra protection from high winds and tidal pressures.
Paul Flatt, Senior Development Manager at the HCA, said: “We are committed to the long-term vision for a new marina at East Cowes which will bring in new businesses, jobs and investment to the area.
“The work underway at Venture Quays is the latest step towards this aim and will play a key part in supporting the wider ambitions for the regeneration of East Cowes.
“The investment in Venture Quays is a signal of our commitment to the Isle of Wight, which has clear benefits for the local economy by attracting new employers and jobs to the area.”