MAJOR improvements are being carried out at East Cowes’ Venture Quays site as part of ambitious plans to create a 300-berth marina.
Around £2 million is being invested by the Homes and Communities Agency (HCA) in upgrading buildings and improving services on the Isle of Wight site, with work expected to be carried out over the next six months.
Improvements include repairs to the roof of the Columbine building, provision of electricity, phone and utility services to each building and improvements to the apron to attract new marine businesses to the area.
Improvements to nearby Maresfield Road, Columbine Road and Castle Street will begin next month, according to the HCA.
It forms part of wider plans for the new 300-berth marina, with a hotel, restaurant and up to 100 new homes.
The HCA, which owns the site, said it would begin a tender process to appoint a developer later this year. An appointment is expected by next summer.
The progress follows a recent £3.16m investment by the HCA in Cowes Harbour Commission’s Outer Breakwater
project, for a new 400m-long barrier to create a sheltered harbour.
Paul Flatt, senior development manager, said the HCA was committed to a new marina at East Cowes, bringing new jobs, businesses and investment to the area.
He said: "The work underway at Venture Quays is the latest step towards this aim and will play a key part in supporting the wider ambitions for the regeneration of East Cowes.
"The investment in Venture Quays is a signal of our commitment to the IW, which has clear benefits for the local economy by attracting new employers and jobs to the area."
Hose Rhodes Dickson and CBRE are marketing the business premises at Venture Quays for the HCA.