ADDRESS Venture Quays, Castle Street, East Cowes, PO32 6EZ
TYPEResidential, Mixed use, Warehouse, Land, Industrial, Other Property Types & Opportunities, Commercial Land
POSTED ON19th April 2022
Opportunity for Residential Led Development Subject to Planning Circa 3.2 acres/1.3 hectares Near the iconic ‘Union Flag’ Columbine building in East Cowes Harbour Views to Cowes, River Medina and the Solent Potential for Mixed Use Subject to Further Agreement Close to Key Transport Connections to Mainland via Red Funnel Car Ferry Expressions of Interest Invited
The Isle of Wight Council (IWC) invite Expressions on Interest in this development opportunity.
It is important to note that this is not an offer for sale or invitation to tender. The document provides information on the site to capture initial market interest. Any further decision on development strategy will be subject to the rules associated with a formal procurement or marketing process.
The East Cowes Waterside development site (The Site) comprises land owned by the Isle of Wight Council. The regeneration of the area is a key priority to IWC and local stakeholders. £5.8 million Levelling Up Funding has been secured to regenerate public realm and dilapidated buildings at Venture Quays by March 2024 which will help create new jobs in the Marine Industry and improve part of the Esplanade.
The Site includes two parcels. The eastern ‘Maresfied site’ (circa 0.86ha), is of differing levels and currently accommodates a car park. The western ‘Albany North’ site (circa 0.44ha) comprises a single story industrial warehouse unit situated next to the attractive Victoria Barracks building, which will be renovated by IWC.
Waitrose and the East Cowes Medical Centre are a 3 minute walk south of the site. The character of the surrounding area is mixed use with industrial premises to the south, including the iconic 1930s Columbine building; famous for the large union flag doors and its nationally important contribution to marine and aerospace engineering, the unit remains a key employer in the area today. Established residential areas are located to the north and east. The esplanade is immediately west of the site providing opportunities for water based recreation and walking routes along the coast. IWC is also delivering public realm improvement schemes on the Esplanade.
The parcels are located near the main East Cowes town centre and are well connected to the Island road network being located only 200m from the A3021, which is the main road connecting East Cowes to the A3054 linking onward to the key towns of Newport and Ryde.
The nearest bus stops are located at Waitrose, providing service routes 4 and 5 through East Cowes and onward to Newport and Ryde. The Red Funnel Ferry terminal is located 200m to the south of the site, providing car transport to Southampton. Car and foot passenger transport across the river medina to West Cowes is provided by the chain ferry, located next to the main ferry terminal. Highspeed foot passenger services to Southampton linking to onward connections to the national rail network across the UK is available in West Cowes.
Venture Quays, Castle Street, East Cowes, PO32 6EZGBIsle of WightPO32 6EZCastle Street