Isle of Wight council cabinet agree to buy Venture Quays

The purchase of the sites will be funded by regeneration funds, approved by the council in its budget for 2019/20, but is subject to being able to agree a purchase price with Homes England.

venture quays

The Isle of Wight council share this latest news. Ed


Moves to protect marine manufacturing at East Cowes’ historic Columbine site have received key support from the Isle of Wight Council’s Cabinet. 

Councillors tonight (Thursday, 11th July) gave the green light to ongoing negotiations to purchase the site – known for its iconic Union flag frontage — from Homes England, as well as three other nearby sites for potential regeneration. 

Delegated powers agreed
So the sites can be acquired without unnecessary delays, subject to an offer being agreed with Homes England, delegated powers to approve the purchase were given to Cabinet members and directors. 

The sites are collectively known as Venture Quays – and as well as Columbine, include the Victoria Barracks building, the Albany warehouse, and a Maresfield Road site currently used for car parking. 

Maintain marine and associated industries at Columbine
By acquiring the sites the council will be able to maintain marine and associated industries at Columbine — securing employment opportunities for East Cowes and the Island — and potentially redevelop the Victoria Barracks site for leisure and public realm use, and the Albany and Maresfield Road sites for housing. 

The purchase of the sites will be funded by regeneration funds, approved by the council in its budget for 2019/20, but is subject to being able to agree a purchase price with Homes England.

Whittle: Acquiring for long-term benefit of East Cowes
Councillor Wayne Whittle, Cabinet member for regeneration and business development, said:

“I hope businesses and the community will recognise we want to acquire these sites for the long-term benefit of East Cowes and the Isle of Wight, and that they will be encouraged to invest in the area on the back of the certainty we can offer.

“It will also give us an opportunity to work with the local community and complete the regeneration of the area for the good of all.”

Image: ronsaunders47 under CC BY 2.0

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2 Comments on "Isle of Wight council cabinet agree to buy Venture Quays"

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We have a Cabinet Member for Regeneration, a Director for Regeneration and now an advert for an Assistant Director for Regeneration, but absolutely no actual Regeneration in East Cowes, just destruction of marine industry and associated river frontage and land grabbing by Red Funnel. If the IW Council who wanted to kill our Umbrella tree, and couldn’t manage to procure a reliable Floating Bridge after 150 years… Read more »
Colin

Regeneration funds? Is there a magic money tree? Or is it council tax payers money that has been cut from just about everywhere else?

Don’t be shy councillors, please answer the question.