Dismissal of alternative ?150M development plan

RNS Number : 3308L

Sutton Harbour Holdings PLC

09 August 2013

 

09 August 2013

Sutton Harbour Holdings plc

("Sutton Harbour" or "the Company")

DISMISSAL OF ALTERNATIVE £150M PLYMOUTH DEVELOPMENT PLAN WELCOMED BY SUTTON HARBOUR HOLDINGS

Sutton Harbour Holdings plc, the AIM listed marine, waterfront regeneration and destination specialist, is pleased to note the dismissal, by local government secretary Eric Pickles, of a planning appeal by developers Wharfside Regeneration for a £150m mixed use scheme for Plymouth's Derriford Hospital site.

Sutton Harbour Holdings has outlined its own proposal to develop the 113-acre former Plymouth Airport site. The dismissal of the Wharfside appeal effectively supports a report published earlier in the year by planning inspector David Nicholson, which ruled that the scheme could stifle investment in a district centre for Derriford and suppress economic growth.

Says Sutton Harbour Holding's CEO Jason Schofield: "This ruling adds further weight to the indicative plans we produced last year to develop the former Plymouth Airport site. The Council has stated that it wants to create a sustainable mixed-use urban centre at the heart of the North of Plymouth. This is exactly what our proposal delivers.

"We have included the development of a business park, education facilities, new district centre, commercial and retail units, an hotel, housing, a new public square, energy centre and a host of other innovations in our proposal. All of these would help generate a significant number of jobs and stimulate economic growth in the area for the benefit of the city as a whole."

Enquiries:

Sutton Harbour Holdings plc

Jason Schofield - Chief Executive

Natasha Gadsdon - Finance Director

01752 204186

Arden Partners plc

Richard Day

Jamie Cameron

0207 614 5917   

Newgate Theadneedle

Graham Herring

Robyn McConnachie

020 7653 9850

 

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