Major strategic regeneration planned for Plymouth Airport site

A major strategic regeneration project is planned for the site of the former Plymouth Airport.

Sutton Harbour Holdings which owns the 104-acre site says it is working with the City of Plymouth to achieve best value through an alternative use. In its trading update, the company said the airport, which closed on December 23 last year, had been a negative feature of its performance.

The year has been one of substantial change with a strategy in place to exit from non-core trading activities, resulting in a revitalised company better positioned to participate in and benefit from marine and waterfront regeneration opportunities.

The company said its property business had performed well although the sector remained challenging.

Trading by the fisheries and marina businesses has been strong, building on the good performance of recent years. To ensure these activities continue to evolve and maintain their market positions, the company expects to make capital improvements during the next year including plans to reconfigure part of Sutton Harbour Marina to cater for a growing proportion of larger vessels.

Progress is also being made towards finalising agreements enabling planned expenditure on and the construction of the new Kingpoint Marina facility at Millbay, Plymouth, later this year which the company hopes will be completed by for the 2013/2014 season.

“The last 12 months has seen the business stabilised with the company well-positioned to continue driving value for shareholders from its asset base and at the same time carefully and diligently pursuing strategic opportunities in line with its stated vision and strategy for growth,” said Chairman Michael Knight.

The company expects to release figures for the financial year in June.

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