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101014 | Second offer is made to owners

From The Cornishman Thursday, 14 October 2010

Second offer is made to owners

Thursday, October 14, 2010

HAYLE harbour owners have been made a second multimillion-pound offer to drop their plans for a food store on South Quay. The proposal comes from...

From http://www.thisicornwall.co.uk:

Second offer is made to owners

HAYLE harbour owners have been made a second multimillion-pound offer to drop their plans for a food store on South Quay.

The proposal comes from Welsh developers Actoris Ltd, which has put forward a scheme to develop a food store on the existing Jewsons' site next to Carnsew Pool. It has written to harbour owners ING to ask it to abandon its plans.

The move comes just a week after a Newquay-based Walker Developments, which acts for both Asda and Hayle Rugby Club, made a formal written offer of £5 million for 35 per cent of the site earmarked by ING for food store.

Actoris has offered ING £500,000 towards the £7 million cost of regenerating South Quay if the company is successful in its own bid for a food store. It would also pick up the bill for a footbridge which would link South Quay with Penpol Terrace.

Infrastructure

But the Dutch real estate firm has described the offer towards infrastructure monies as a "drop in the ocean".

A spokesman for the group said: "Clearly the second offer in a week demonstrates just how keen Walker and Actoris are to lock out ING and take the significant sums being offered by the food stores. ING reiterated to Actoris in a letter sent to the company that monies received by the food operator will be invested back into the scheme and assist in covering the harbour infrastructure costs.

"We would like to remind Actoris that ING has a long-term commitment to Hayle and we feel both offers are a property version of a 'hit and run'.

ING has asked both developers to leave its food store proposal to national and local planning policy.

But Geraint John, a director of Savill, which is a development agent working for Actoris, said its offer would provide the best of both worlds. "Hayle would get a supermarket on an acceptable site and we would fund some of the works to South Quay which ING says are too costly and they can develop the rest of the residential site. Everybody gets something."

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