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Department offering major development opportunity

Tuesday, 13 January 2015

The Department of Infrastructure is offering a major commercial development opportunity in lower Douglas.

Expressions of interest are being sought for two prominent quayside sites on Lord Street and Parade Street, which are currently used for car parking.

It is hoped the redevelopment of the area, which extends to a combined 3.17-acres, will act as a catalyst for further regeneration of the Island’s capital.

The sites are being marketed on behalf of the Department by estate agent Black Grace Cowley and developers have until 13 March 2015 to register an interest.

Any proposed development will be subject to planning approval, but a mixed commercial use, including leisure facilities, a hotel, shops and offices, is envisaged.

The Douglas Masterplan, which sets out a bold vision of how the town centre may be developed in the future, identifies the enormous potential of the two sites.

A conceptual scheme for Parade Street shows a multiplex cinema, retail and office accommodation and a multi-storey car park. For Lord Street, an artist’s impression highlights the potential for a winter garden, hotel, apartments, gallery/exhibition space, retail, cafes and car parking.

Infrastructure Minister Phil Gawne MHK said:

‘We are seeking to encourage significant new investment in the town to support the Government’s national priority of growing the economy. This is an opportunity to develop a prime area in Douglas fronting the inner harbour and marina and close to the main shopping streets.’

He added:

‘The Douglas Masterplan provides strategic guidance rather than a blueprint for development, and the Department will adopt a flexible approach when considering any proposals. We want to see high quality architectural designs that will enhance this important gateway to the Isle of Man and set the standard for future development of the town.’

Government would seek to retain a revenue stream from car parking, with an expected minimum provision of 600 spaces across the two sites. There would also be a requirement for the Lord Street bus interchange to be enhanced as part of the overall development.

Redevelopment of the Lord Street and Parade Street sites would complement the major projects being undertaken by the Department of Infrastructure, including improvements to the town’s retail centre and the proposed refurbishment of Douglas Promenade.

Chris Robertshaw MHK, Minister for Policy and Reform and Chair of the Central Douglas Masterplan Committee, said:

‘This could be the start of an exciting new era. Investment from Government and the private sector will help to revitalise Douglas, provide new amenities for residents, visitors and businesses, and support aspirations to create a world-class capital.’

Initial expressions of interest should be submitted to Black Grace Cowley no later than 13 March.

Department offering major development opportunity

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