Plans for a new Isle of Wight marina, in East Cowes. Picture courtesy of the HCA.
WORK on a new 400 berth Isle of Wight marina is expected to start later this year.
The Homes and Communities Agency (HCA) is looking for a partner to develop and operate the marina, at East Cowes, and a surrounding waterfront development.
It said the opportunity included the freehold of the iconic Columbine building, which has the world’s largest Union flag painted on its doors and is expected to be of interest for manufacturing or as a marine service centre.
Land also included for sale includes the Victoria Barracks building, Albany building and the Maresfield Road site which has planning permission for up to 100 new homes, a 60-bed hotel, a restaurant or bar and car parking.
The plans forms the latest phase in the East Cowes regeneration project, which has already seen the development of 180 new homes, a Waitrose store, medical centre and new town square.
Paul Flatt, HCA senior development manager, said: "This is an exciting opportunity for a developer with experience in marine and waterfront development to bring forward the next key phase of the regeneration of East Cowes.
"All the infrastructure and planning permissions are now in place, ready for a developer to start on site."
He added: "The marina project is an important next step in the on-going regeneration of East Cowes town centre.
"The scheme will provide an important addition to marina facilities in the Solent and continue to attract visitors and jobs to East Cowes.
"We have received very strong interest in this project, from established marine developers in the UK as well as abroad."
An appointment is expected to be made by the summer with work beginning later this year.