A 'ONE OFF' opportunity, which could create up to 1,000 jobs in East Cowes in the 'creative industries' has been proposed to the Isle of Wight Council.

The council would need to sell the site to three unnamed but 'well-known sector-leading figures' with decades of experience if the development of the Kingston Marine Park (KMP), on the banks of the River Medina is to go ahead.

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The authority has received an offer for the site on Saunders Way and will decide whether or not to sell the land, at its cabinet meeting on Thursday (November 10), potentially behind closed doors.

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KMP has been vacant for more than ten years, and until 2018 was owned by the government under its Homes and Community Agency.

Planning permission was granted in 2012 for the 15,000 sq m marine business park, with the hope of relocating boatbuilding from Venture Quays.

A smaller application for the marine park was approved in January 2018 but did not go ahead.

The council bought the site in the same year with the intention of delivering economic growth and prosperity.

However, the necessary river access has been the main issue with any development of KMP so far and it has proved undeliverable due to environmental reasons.

In recent years the council has marketed the 16-acre site and received interest and offers from businesses, wanting to utilise the land for non-marine uses.

In a report going to the council's cabinet, the developers — two of the three parties supposedly live locally — are said to be highly driven to deliver the project and are in a hurry to do so.

The land would be sold subject to planning permission being obtained to change the use of the site as it is restricted to only marine employment.

As part of the contract, the council has said it will retain the right to buy back two and a half acres for £1 as a potential location for a battery storage facility.

Located next to the Kingston / Cowes Power Station, the authority has been considering the prime site for the battery bank, which would be able to absorb surplus renewable energy and provide greater resilience for the Island's energy system.

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