An eyesore site in the heart of Newport could be bought by the Isle of Wight Council — to make way for housing.
Land on Pyle Street and East Street has been empty for years after buildings, including the former Shoulder of Mutton pub and houses, were pulled down.
Protecting the land from opportunistic developers
The council fears if it does not buy the 0.5 acre site from Homes England, someone else will — “an opportunistic developer … which may not enhance this key location or deliver housing”, it said.
A study conducted by the authority last month said there is the space to provide 40 homes, a ground floor commercial or community unit and on-site parking.
Of the one and two-bed homes, 14 could be affordable properties.
A decision will be made by the authority later this month about whether to buy the site or not.
Funding to prepare site for development
The authority has been able to secure £409,360 funding from the government to make the site suitable for redevelopment, including clearing, levelling and removing materials.
However the site must be sold to the council before the end of March so it can use the government cash.
The cost of developing the proposed scheme would be more than £484,500, the council has said, but the 40 residential and mixed unit potential is seen as both viable and would be able to secure planning permission.
The government funding is key to ensuring it could be developed though, the council said. The actual price the council could buy the land for is confidential, but the council may pay £14,000 in legal fees.
Possible to buy now
However, the authority has said the purchase price and holding costs for the site are ‘sufficiently low’ that buying it now “and taking time to bring the right development forward would be preferable to risking someone else acquiring it, mitigating both of these risks.”
Former permission
Permission was granted in 2006 for the buildings on the land to be knocked down and a block of 69 flats to be built.
While the buildings were demolished in the subsequent years no block of flats appeared and the land has been left in a derelict state.
The site is currently owned by Homes England, which bought it in 2016 as a regeneration opportunity but was never developed due to viability issues the council has said.
This article is from the BBC’s LDRS (Local Democracy Reporter Service) scheme, which News OnTheWight is taking part in. Some alterations and additions may have been made by OnTheWight. Ed
