Chief Minister is for redevelopment of brownfield sites

Fri, 29 Sep 2023

Chief Minister Alfred Cannan MHK has said he welcomes the redevelopment of three prominent brownfield sites following the recent announcement of £50 million in private sector investment.

Under the scheme, the Government can provide up to 25% of the costs of the redevelopment – excluding land costs – which is only payable upon the completion.

The planned redevelopment of the Villiers and Lake Road sites in Douglas and the Ocean Castle site in Port Erin was unveiled at last week’s Government Conference.

The Chief Minister said: “There are several brownfield sites which have blighted parts of our Island for too long, with prominent areas of our capital in particular crying out for regeneration. Many of these sites are not financially viable for redevelopment by the private sector alone meaning they have sat vacant for a long time – some of them for decades.

“It was clear to the Council of Ministers that a shift in policy was needed if this situation was ever going to change.  The commercial viability for some sites was simply not there without some form of intervention. 

“Targeted investment from Government – only paid after completion of any developments – could be enough to tip the balance and spur regeneration.  This will not only generate an overall positive economic return through the development phase, but also for many years to come.”

He added that the availability and affordability of housing remains a key issue in the community, and needs addressing.

However, he says that the "development of these sites will see almost 100 new homes created, supporting Government’s ambition to have 1,000 additional occupied homes by the end of 2026".

 

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