Cumbrian developer targets Isle of Man
CUMBRIAN property developer Time & Tide is setting up an office on the Isle of Man as part of a growth drive there.
The Kendal-based company has submitted plans for a £13m scheme – its first commercial development – comprising a library and multi-storey car park, for Douglas Corporation
The proposals for land between Fort Street and Lord Street will provide 460 car parking spaces, offices a new purpose built library with café and public conveniences.
If approved the project will being this autumn with the completion expected late 2013.
John Asplin, managing director of Time & Tide said: “We believe this development has the potential to play a catalytic role in the regeneration of the Lower Douglas region, whilst providing much needed facilities in economic as well as social terms.”
“There are very exciting plans for the area and it is refreshing that the council have taken a very progressive attitude by investing in Douglas in order to kick start the clear latent potential in the area”.
“As a group we’ve identified the regions we see as being appropriate for us to invest in order to expand.
“The Isle of Man gives a good balance of both economic stability and opportunity that we are looking for to meet that growth, and we are confident this will be one of many projects our development team do on the Island.”
Mr Asplin said the Cambrian Place development would be privately funded and then sold, in stages, to the Douglas Corporation.
