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Harbour to change hands | August 2011 | hayle harbour :: regeneration news


Harbour to change hands

HAYLE Harbour is heading into Public hands for the first time in its history

If plans to regenerate South Quay are approved the Harbour and nearly 60% of the World Heritage site will be transferred into Public Ownership with a unique funding package provided by a World Heritage levy on new businesses and houses in the Harbour

After months of discussion with Community representatives it now looks like the dream could be a reality and a fully funded Harbour and World Heritage site could be transferred to the Community for the benefit of the people of Hayle.

Harbour owner ING is prepared to gift a long list of assets to a new community trust and will create an innovative ground rent scheme to help self-fund the running and maintenance of the harbour in the future.

The company is estimating the World Heritage Levy from commercial properties, homes and harbour dues could generate up to £200,000 a year.

ING spokesman Gary Cartmell said the ground rents would range from £125 per unit for a one-bedroom apartment to £250 per unit for a four-bedroom house.

He said: "Assuming a very low density of 532 residential units is built (outline consent exists for 1,039 units) this would produce a gross income of £100,000pa.

"But harbour dues and levy charges for the commercial space should increase the total income available to between £150,000 and £200,000.

"As a result the future revenues would comfortably exceed future costs. There would also be the potential of securing further income from harbour dues from future occupiers of the Marine Renewables Business Park, spin-off trade from Wave Hub and future land interests."

The assets could include access land to the train station, land around Copperhouse Pool including Wilson's Pool and the Triangular Spit. Penpol Terrace garden strip, the north side of Isis gardens, the harbour office, walkways around the quay, moorings, Paddy’s Mill and Carnsew Quay.

Harbour to change hands