x-in-man Posted May 28 Share Posted May 28 Window dressing on an Internet. It will never get started but keeps everyone happy that the shit hole that is the harbour area can look like southern Spain for another couple of years. 2 Quote Link to comment Share on other sites More sharing options...
code99 Posted May 28 Share Posted May 28 "If approved, they would see a mixed-use development built on the site, with 85 apartments, office space, a multi-screen cinema complex, restaurants and a food hall". Meanwhile, in the real world: "Streaming services like Netflix, Amazon Prime, and Disney+ have greatly impacted movie theater attendance in recent years. As more people opt for the convenience and affordability of watching movies at home, theaters are seeing a decline in ticket sales and revenue. This shift in consumer behavior has significant implications for the entire film industry, from production to exhibition". Quote Link to comment Share on other sites More sharing options...
Mistercee Posted May 28 Share Posted May 28 It appears the Company is owned and managed by an Irish guy called Mervyn Smith. A search shows him as secretary of an Irish building company called Blainroe Contractors. Mr Smith received a mention in the Paradise Papers. WYYTTAVIN LIMITED was incorporated in 2022 and has issued share capital of £1. The registered address appears to be that of Pelagos Yachts. Raises some questions about how and why some of our taxpayers money may be thrown at this. 4 1 Quote Link to comment Share on other sites More sharing options...
John Wright Posted May 28 Share Posted May 28 5 minutes ago, Mistercee said: It appears the Company is owned and managed by an Irish guy called Mervyn Smith. A search shows him as secretary of an Irish building company called Blainroe Contractors. Mr Smith received a mention in the Paradise Papers. WYYTTAVIN LIMITED was incorporated in 2022 and has issued share capital of £1. The registered address appears to be that of Pelagos Yachts. Raises some questions about how and why some of our taxpayers money may be thrown at this. The way the grants/loans schemes works is that payment is only made to the developer once the building work is completed in compliance with planning and other permissions. So, he’s going to have to raise the capital cost. 3 1 Quote Link to comment Share on other sites More sharing options...
code99 Posted May 28 Share Posted May 28 (edited) 1 hour ago, x-in-man said: Window dressing on an Internet. It will never get started but keeps everyone happy that the shit hole that is the harbour area can look like southern Spain for another couple of years. In 2007, Valencia spent about £1b to build the City of Arts and Science, including a Formula One street circuit. “Valencia still hosts Formula One races. But the regional government has run out of funds to repair schools, and some kids have been attending class in trailers for years”…. Edited May 28 by code99 Quote Link to comment Share on other sites More sharing options...
Two-lane Posted May 28 Share Posted May 28 The photo-realistic artist's impressions are designed to minimise the height of the tallest part of the building. It is in the background of all the images bar one - in the "Roastery" image it seems that it is barely higher than the building in the foreground. The Steam Packet building is two stories high and the planned building is 14 stories. Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted May 28 Share Posted May 28 So the 25%...what happens if the estimated cost is £90m (25% = £22.5m) and then the usual caveat is applied: 'IOM can't run a bath' - and the actual cost is, say, £120m (25% = £30m)? Is this 25% and £22.5m agreed at start? Or are we looking at the usual IOM Govt open cheque book again? 3 Quote Link to comment Share on other sites More sharing options...
When Skies are Grey V2 Posted May 28 Share Posted May 28 Im getting Ettyl vibes!! 2 Quote Link to comment Share on other sites More sharing options...
Mistercee Posted May 28 Share Posted May 28 1 hour ago, John Wright said: The way the grants/loans schemes works is that payment is only made to the developer once the building work is completed in compliance with planning and other permissions. So, he’s going to have to raise the capital cost. I am not sure that is the case John. According to the Island Infrastructure Scheme 2022: Payment of financial assistance: general (1) The Department may make a payment of financial assistance from funds maintained by the Treasury to an eligible business in respect of qualifying costs incurred, or to be incurred, directly or indirectly by that eligible business in carrying out qualifying development in accordance with this Scheme. This is subject to sub-paragraphs (2) to (6). (2) Payment of financial assistance is subject to the satisfaction of the conditions and other requirements specified in this Scheme. This is subject to sub-paragraph (3). (3) But the Department may waive any condition or other requirement specified in this Scheme in any case where the Department considers it is appropriate to do so. So payment may be made in respect of costs to be incurred and the Department can also waive any conditions or requirements specified in the scheme. The Magic Money Tree Shop is open!! 2 1 Quote Link to comment Share on other sites More sharing options...
code99 Posted May 28 Share Posted May 28 16 minutes ago, Albert Tatlock said: Or are we looking at the usual IOM Govt open cheque book again? Highly likely. According to Dr Allinson :"Through funding from the Economic Strategy Board, we are supporting and incentivising private sector investment into our island, aligning to the ambition to see £1bn invested over the long term..." Quote Link to comment Share on other sites More sharing options...
Two-lane Posted May 28 Share Posted May 28 50 minutes ago, code99 said: According to Dr Allinson :"Through funding from the Economic Strategy Board, we are supporting and incentivising private sector investment into our island, aligning to the ambition to see £1bn invested over the long term..." Does that mean he is hoping for £1bn from private sector investment? This is the news article: https://www.manxradio.com/news/isle-of-man-news/lord-street-regeneration-plans-revealed/ Quote Link to comment Share on other sites More sharing options...
Max Power Posted May 28 Share Posted May 28 This is disgusting, we need to preserve our heritage bomb sites, they are what makes our city what it is! What can we moan about once they are built upon? 1 1 3 Quote Link to comment Share on other sites More sharing options...
monasqueen Posted May 28 Share Posted May 28 Remember back to the high tide, with surge, on 1 February 2002. "The Tongue and North Quay in Douglas suffered extensive flooding and sea water invaded many properties along the promenade. Cars were swept away, and boats ended up on the Tongue in Douglas as the harbour flooded, with boats and vehicles damaging one another. The promenade was closed, with parts remaining closed until late Saturday" Source - https://www.gov.im/media/1040871/the_isle_of_man_climate_change_scoping_study_-_costing_the_impacts_of_climate_change_-_estimated_costs_of_three_historic_weather_events.pdf See also picture at http://www.island-images.co.uk/Year2002/0202011336.html If they are thinking of putting anything under road level, that would be lunacy. 1 Quote Link to comment Share on other sites More sharing options...
Brian333 Posted May 28 Share Posted May 28 It’s usual practise I hear to go for many more floors than you expect to get in the outline plan. Quote Link to comment Share on other sites More sharing options...
2112 Posted May 28 Share Posted May 28 I wonder by the time this building is completed, what the economy will be like? Will the island be booming, and will the hospitality industry still be protesting? It is ironic that there are plans for a restaurant, which I am sure other restaurants will be delighted with. Also plans for a food hall - another Spar? 1 Quote Link to comment Share on other sites More sharing options...
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