£29m Red Funnel plan

By Emily Pearce

Wednesday, January 29, 2014

 

£29m Red Funnel plan

Red Funnel hopes to relocate it's East Cowes terminal. Picture by Chris Thwaites.

FURTHER details have been released about Red Funnel's multi-million pound plans to improve its terminals and ferries.

As revealed by the Isle of Wight County Press earlier this month, the company plans to relocate its East Cowes terminal and port facilities to Venture Quays and Trinity Wharf — a move chief executive Kevin George said would bring business opportunities to the town and ease traffic congestion.

The Isle of Wight Council today (Wednesday) confirmed it was working with Red Funnel and Southampton City Council to bid for £14m from the government's local growth fund, through the Solent Local Enterprise Partnership.

The cash would be used in addition to £15m of private sector investment to relocate the East Cowes terminal — paving the way for the redevelopment of the town centre — improve access to the East Cowes and Southampton terminals and upgrade ferries.

Investment would be made primarily on the Southampton side, where a proposed residential, retail, office, leisure and hotel development could create more than 1,000 new jobs.

The East Cowes plans include improving access from the town centre to the waterfront and creating the potential for new shops and restaurants, which would complement the Homes and Communities Agency's (HCA) proposed marina development.

Council leader Cllr Ian Stephens said: "This bid is very much at an early stage and much more work is needed to develop the detail. Key to this process will be discussions with other development partners, as well as East Cowes Town Council and Cowes Town Council, ward councillors, landowners and others. If successful it could provide long-term economic benefits to East Cowes and the Island as a whole."

As previously reported, the land Red Funnel hopes to relocate its East Cowes facilities to is owned by the HCA. It has yet to be determined whether compulsory purchase orders would be used to buy land around the site.

A decision on the funding bid is expected in the spring. If the bid is successful and planning permission granted, building work could start in 2017, to be completed in 2020.

Reporter: emilyp@iwcpmail.co.uk

Comments

Log-in or register to comment on this story. See our House Rules here.

By ticking "Remember me" you agree to a cookie being stored on your computer - no personal data is shared.

Forgotten your password?
Displaying the last 10 of 20 comments - Show All Comments

Log-in to Report

by carl palmer

7th July 2014, at 11:23:30

all this will go away when I build a bridge

Log-in to Report

by Keven Ball

31st January 2014, at 11:56:14

*My opinion - it is rubbing off on me, lol

Log-in to Report

by Keven Ball

31st January 2014, at 11:55:37

@ Neil Jacks, I do not go to school - did you mean you went to a better school than us (or we did)? I indeed went to school in the past but I am almost 30 now! I do not mean to appear rude by I am confused to know why so called different user names make the same mistakes. My option is that the same person has many user names... Either way back to the ferries I feel the cost of travel will increase if this goes forward.

Log-in to Report

by Mark Pilbeam

31st January 2014, at 00:35:59

Alan, did you not read paragraphs 3 & 4?

Log-in to Report

by Keven Ball

30th January 2014, at 22:21:41

*Seem to be

Log-in to Report

by neil jacks

30th January 2014, at 22:21:30

sorry keven, perhaps you go to a better school than we did.

Log-in to Report

by Keven Ball

30th January 2014, at 22:21:12

@ Alan
http://www.redfunnel.co.uk/corporate-information/about-us/

Many of these ferry companies seem to Limited companies (privately owned)

Log-in to Report

by alan naylor

30th January 2014, at 19:44:45

Where upon earth do these ferry comanies get all of these millions of pounds from ??? to spend on new facilities I really wish I knew

Log-in to Report

by Keven Ball

30th January 2014, at 17:12:57

I have noticed a trend with many of the user names so far with the same mistakes and poor spelling/grammar. Interesting!

Log-in to Report

by Keven Ball

30th January 2014, at 17:12:14

@ Neil
You are forced to use the ferries/hovercraft if you live on the island, unless you have another idea how people can cross either with transport of by foot? The second part I agree with in part - live on the mainland so you do not have to worry about ferries. I also feel the prices will increase instead of decreasing in the near future.

Any views or opinions presented in the comments above are solely those of the author and do not represent those of the Isle of Wight County Press.

Facebook Icon Twitter Icon Delicious Icon

More News

1 - 2 - 3 - 4

Most Read

  1. Efforts to stop roads being dug up

    Thursday, July 31, 2014

  2. 13 acres of seafront sold for £180,000

    Friday, August 1, 2014

  3. Island to welcome royalty

    Thursday, July 31, 2014

  4. James Bond boat rescued

    Thursday, July 31, 2014

  5. Island beauty spots could be fracked

    Friday, August 1, 2014

View our Elgin Traffic & Travel Map