Sutton Harbour Holdings PLC Joint Local Plan Report (5893T)
March 21 2019 - 5:36AM
UK Regulatory
TIDMSUH
RNS Number : 5893T
Sutton Harbour Holdings PLC
21 March 2019
Sutton Harbour Holdings plc
("Sutton Harbour" or the "Company")
Joint Local Plan Report
The Company notes the release of the Inspectors' Final Report on
the Examination of the Plymouth and South West Devon Joint Local
Plan (the "Final Report") on 19 March 2019. The Company welcomes
the report and is carefully considering the implications for the
Sutton Harbour area and for the former airport site in north
Plymouth in which the Company has an interest, in part as Ownership
in Title, and in the majority in a long term lease with 135 years
remaining and a right of renewal for a further 150 years.
Philip Beinhaker, Executive Chairman of Sutton Harbour Holdings
plc commented:
"We are encouraged that the report supports development projects
which have been approved over the past year in Sutton Harbour,
including Sugar Quay, Harbour Arch Quay, Harbour Car Park extension
and the Boardwalk.
Sutton Harbour is also working jointly with Plymouth City
Council for the realisation of the plans for the Mayflower 400
anniversary, including the hosting of the majority of the yachts
for the international Transat yacht race.
With regards to the Former Airport Site, we note the report
provides for the reservation over the next five years as a possible
reuse as a site for General Aviation. We also note that the
inspectors identified a number of challenges in the development and
operation of such a General Aviation airport on this site, and
called for a viable, detailed business plan to be presented (refer
to Item 165 of the Final Report).
The report also delineates the logic of the limitation of the
reserve to five years, saying: 'A longer safeguarding period could
risk the site being left vacant and unused for much longer than it
already has. This would not be appropriate.'
The Company hopes to work closely with Plymouth City Council
during the five year safeguarding period to jointly prepare a plan
for the development of this key site.
This will enable Plymouth as the Local Authority to realise
social and economic value from this currently unused site, in the
event that a detailed business plan for General Aviation is not
realised. Sutton Harbour Holdings plc has previously prepared a
preliminary development plan for the former airport site. The
Company looks forward to productive discussions with Plymouth City
Council to further explore the business arrangements for the lands
and the realization of the potential uses for the lands."
Enquiries
Sutton Harbour Holdings plc +44 (0) 1752 204186 Philip Beinhaker, Executive Chairman
Natasha Gadsdon, Finance Director
Arden Partners (NOMAD and Broker) +44 (0)20 7614 5917 Paul Shackleton, Ben Cryer
Notes to Editors
Sutton Harbour Holdings plc (SUH) is an AIM listed company
specialising in marine operations, waterfront regeneration and
destination creation in Plymouth and South West England.
The Company operates Sutton Harbour Marina, King Point Marina
and Plymouth Fisheries. Operational activities include mixed-use
lettings, car parking and support services to harbour users,
property management and regeneration and asset enhancement.
Sutton Harbour Holdings plc is committed to being the leading
marine and waterfront regeneration specialist in Southern England,
and to positioning Sutton Harbour in Plymouth as a destination of
national interest.
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