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news opinion
Should those who work to the west or south-west of London be worried by plans for ’Boris Island’ – the airport proposed for the Thames estuary?
While it is true that Heathrow has provided a sustained boost to the economy of the Thames Valley, as a source of jobs, and as a magnet attracting foreign companies into the UK, alternatives are attractive – not just to the individual traveller but to the economy, too.
Regional airports like Southampton do an excellent job, but the restrictions on runway length and site capacity, limit just how far they can grow. Heathrow, meanwhile, may have the sparkling Terminal Five but it won’t have a third runway, the Government has decreed.
The way is now open for a new international airport to the east of London – a hub that could open up new routes to Asia and would have capacity for connecting flights.
Dubbed “Boris Island“, after mayor of London Boris Johnson, the biggest advocate of the airport, the estuary site is attractive. There will always be environmental concerns, of course, but you can’t build a major international airport without disrupting the natural environment.
Demand for London’s airports is set to grow from 140 million passengers per year currently to 400 million by 2050. Heathrow clearly can’t provide the solution to that problem.
The Thames estuary might be the best location for London’s new hub. But ground transportation to and from Boris Island has to be fast, efficient and cheap to make the dream work.
David Murray Publisher
www.businessmag.co.uk
Superyacht is inspiration for hotel design
MDL Marinas has teamed up with Harbour Hotels to propose plans for a superyacht-inspired £25 million luxury hotel at Ocean Village Marina in Southampton.
The four to five-star hotel will include 70 bedrooms, a spa, gym and swimming pool, along with a restaurant and roof terrace. The ground floor is proposed to include a large open plan lounge, restaurant and bar which will extend out onto a terrace at the end of the existing promontory. A welcome addition to the city, the hotel will have a number of flexible function rooms and is set to be popular during the annual Southampton Boat Show, offering additional restaurants and facilities in a waterfront setting.
Adjacent to the hotel, at the front of the marina, MDL Marinas and Harbour Hotels are also looking to deliver a new retail and restaurant
arcade. Harbour Hotels hopes to bring chef Alex Aitken to the site to deliver another high- end restaurant similar to the renowned Jetty restaurant at the Christchurch Harbour Hotel in Dorset.
Eamonn Feeney, managing director of MDL Marinas Group, said: “We are very excited about this joint venture, which will deliver our long-held aspiration for a high-class hotel at Ocean Village. The development is being designed to complement the adjacent Allied Development scheme and the proposed residential units, coupled with a mix of bars and restaurants, will create a vibrant place to live, work and enjoy time by the water.
“Ultimately we see Ocean Village, with its high-quality marina, becoming the new waterfront destination for Southampton and
the new luxury facilities are set to be a welcome addition to berth holders and overnight visitors at the marina.“
Nick Roach, chairman of Harbour Hotels, added: “The development of a hotel on this site is a great fit for our portfolio and perfectly complements the existing marina. We are fully committed to deliver a landmark hotel, spa and dining destination for Southampton.“
MDL has played a central role in the development of the modern day marina and the company has grown to become Europe’s largest marina group. It owns and operates 19 UK marinas and boatyards, as well as marinas in Spain and Italy. Harbour Hotels, owned by property investors Nicolas James Group, has five hotels along the south coast.
• Image compliments of MDL Marinas
Highcross invests £6m in industrial estate
One of the largest industrial investment deals of its kind in Hampshire in recent years has taken place, with Titchfield Park, Fareham, acquired by Highcross for more than £6 million, representing a yield of 8.22% after purchaser’s costs.
The virtual freehold of the 121,690 sq ft industrial estate, which comprises five industrial units, was sold by the Greater Manchester Pension Fund (GMPF), which was represented by regional real estate adviser Hughes Ellard.
Highcross, represented by Capita Symonds, also owns 1000 Lakeside,
North Harbour, Portsmouth, home to 70 companies and organisations, and the fully occupied Burlington House at Botleigh Grange Office at Hedge End.
Titchfield Park was a speculative development built in the early 1990s by Pilkington Pension Fund before it was sold on to GMPF. Current occupiers are glass merchants Nicholls & Clarke, with one unit, and aircraft avionics manufacturer Meggitt Avionics, with three units. Both are unaffected by the deal. A fifth vacant unit, at 36,000 sq ft, is to be extensively refurbished by Highcross.
Hughes Ellard has been retained by Highcross as the letting agent. Hampshire County Council owns the ground lease but it is, in essence, a virtual freehold, because of the 125- year length of the lease term.
In the March issue of The Business Magazine
• Olympics Special • Law South East • Women in Business • Focus on Southampton
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THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – FEBRUARY 2012
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