CONTRACTS EXCHANGE PAVES WAY FOR PROPOSED £100M MARTELLO QUAYS PROJECT
Contracts have been exchanged which pave the way for a proposed £100m redevelopment at Pembroke Dock Waterfront, one of the largest marina developments currently being planned in the UK.
The proposed Martello Quays development would include:
- 300 marina berths
- a cruise liner berth
- 250 houses
- 200 apartments
- a factory outlet
- chandlery shop
- hotel, five screen multiplex cinema, pub / restaurant / shops
- 250 Marina car park spaces
It is anticipated that a planning application will be submitted next year, and if approved, the completed development could have an end value estimated to be in excess of £100 million.
The development is being supported by Milford Haven Port Authority, Pembrokeshire County Council, the Welsh Development Agency and Crown Estate, who have selected Martello Quays Ltd - a partnership between Conygar Investment Company Ltd, private Welsh based developers and Vinci Project Development Ltd, a Vinci PLC subsidiary - as the developer.
Norwest Construction Ltd, a Vinci PLC subsidiary, has been nominated as the main contractor for the development.
Ted Sangster, chief executive of the Port Authority, said on behalf of the client group that the exchange of contracts was the start of a long process.
“This exchange is great news as it defines the way forward and formalises an outline vision,” he said. “The processes leading up to such a complex project are lengthy, and a large amount of up-front speculative investment has been necessary from all parties.
“Now that we have an overall vision, we look forward to the next stage of preparing detailed design work on the civil engineering aspects of the project. When this work is complete, and prior to the submission of a planning application, there will be full public consultation.”
Andrew Davies, Minister for Economic Development and Transport said, “The Welsh Assembly Government's strategic agenda recognises that Wales' natural and man-made environment is exceptionally rich and diverse, providing fantastic opportunities for tourism, economic regeneration and activity based recreation.
“Wales already has international recognition as a sports related tourist destination, but one of our under-utilised assets is the spectacular 700 miles of coastline around Wales.
“Together with significant tourism benefits, the development of a vibrant marine industry in Wales is important in encouraging economic and community regeneration, and presents considerable opportunities for investment and business growth.”
Keith Williams, a director of Martello Quays Limited, said he was pleased that the way was now clear to move forward. “The company is committed to working in partnership with the client group to achieve the aims and objectives as set out in their tender documentation for the project.”
Solicitors Morgan Cole have advised the client group and Hugh James advised Martello Quays Ltd.
Phil Jardine of Morgan Cole said, "This is a very exciting proposition for the West Wales economy, which promises to stimulate enormous commercial interest. Work has been going on behind the scenes for some time, and we are delighted that legal agreements have now been exchanged.”
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