Douglas Quayside development - What’s 900 years between friends?

Despite a spirited attempt by Michael MHK, David Cannan and others to defer a decision for a month - to allow more time for Members to consider the implications of approving the principle of a 999 year lease being granted to a ‘development’ company on the ‘Lord Street’ site - the majority of Members eventually backed the motion from DOLGE Minister John Shimmin.

Accusing fellow Members of being “risk averse”, Mr Shimmin poured scorn on the attempts to have an adjournment, and warned Members that a delay could result in the developer walking a way; and the Island loosing out on a £70m investment that was badly needed.

He was also very scathing of questions about who the preferred developer, Askett-Hawk were and their track record. He pointed out that Ian Pearce, the person behind the proposals, who was born and educated in the Isle of Man, had been involved in prestigious developments in London, Manchester and Liverpool and had now returned to invested in the island.

Typically, Members objecting to the way in which the matter was being handled were made to feel like ‘enemies of the state’. This was despite them making it clear they did not object to the site being developed, just the issue of whether the government should be offering an exceptional 999 year lease instead of the normal 99 – 125 years.

The Chief Minister appeared to imply that Members should show their gratitude to the Executive - who Mr Brown said hadn’t needed Tynwald approval for what was proposed, but had brought it to them for the sake of ‘transparency’ - by not really questioning the proposal.

The inference throughout the debate was that 999 years was needed, by the developer, in order to attract lenders; but the Manx Herald is sceptical that investors could not be attracted or a return made in 99 – 125 years.

A further issue arose as to whether there had been a level playing field during the ‘tender’ process to choose the preferred developer. Burnbrae and the Sefton Group have claimed they were not offered the same terms and wanted to know why.

Even Liberal Vannan Party Leader, Peter Karran MHK, who said he isn’t on Graham Ferguson-Lacy’s Christmas card list, queried whether the process had been fair.

However, these concerns, unless a legal challenge is mounted, now seem immaterial and presumably we can expect to see a planning application for the site in the next few months.