Camper & Nicholsons Marinas Limited, has signed an agreement with its landside partner, Westcourt Real Estate (Europe) Ltd and the Homes and Communities Agency to permit the development of Victoria Quay, a landside and seaside development which includes a new 400 berth marina, at East Cowes, Isle of Wight.
The agreement is subject to the satisfaction of certain conditions including funding, planning and building. In particular, the exchange of final contracts relating to the development remains subject to the incorporation and financing of an investing company within the next 45 days. It is anticipated that the investing company will then engage a development company, in which CNMI will have a carried interest, and enter into a marina lease with us.
As the statement says, Cowes is, perhaps, the most iconic yachting location in the UK. In addition to the new 400 berth marina, the proposed scheme will include a boutique hotel together with a wide range of residential, commercial and leisure facilities on the 2.6 hectare site.
CNMI : Camper & Nicholsons to redevelop Victoria Quay