An update from Captain Stuart McIntosh, Harbour Master:

"In our July E-newsletter we informed you of the Government proposal to transfer SEEDA's Isle of Wight land assets over to the Homes and Communities Agency (HCA), and the intention for the Agency to deliver the Outer Harbour Plan as one of the agreed projects under a new Economic Assets Programme.

I am pleased to report that on September 19th, SEEDA's Island land assets were transferred to the HCA.  Another positive step was the transfer to the HCA of SEEDA's principal managers and directors who have been leading on the Outer Harbour Plan. Their remit is to complete the delivery of the existing agreed projects with funds generated from the managed disposal of the remaining portfolio of assets which have transferred.

From recent discussions with the HCA we understand that the national Economic Assets Programme will be considered as a series of local portfolios, and delivered by working with local partners from April 2012.  The Government has agreed the principle of a 10-year delivery plan based on the existing Regional Development Agency projects and have tasked the HCA to review the projects and prepare detailed delivery plans based on priority and deliverability.  CHC have made a strong case for the OHP to be a priority project within the initial delivery period based on the project being fully consented and ready to go and with a high percentage of 'private sector' funding.

We will ensure that we continue to keep you informed as the project moves forward."

A detailed planning application has now been submitted to the Isle of Wight Council for the redevelopment of the old Sugar Store building on the north side of Shepard's Wharf Marina. The new building will deliver improved facilities for yachtsmen as well as valuable new workspaces which should help to create additional jobs in the town.

"This is the next step towards improving the experience of visiting Shepards Wharf for both our regular customers as well as yachtsmen coming into Cowes for the first time. We want Shepards to be seen as a friendly marina where customers really count so it's important that we continue to invest in the site," commented Stuart McIntosh, Cowes Harbour Master.

As well as providing office space for local businesses the new building will include a new bar/restaurant space. Prospective companies or individuals who might be interested in looking at future business accommodation in this fantastic location are invited to contact the Harbour Master directly to discuss their requirements.