Paving a way for jobs at marina

Apr 30 2008 by Graeme King, The Journal

A VITAL land deal has been struck between development company Jomast, the HMS Trincomalee Trust and Hartlepool Council to pave the way for a £30m project at Hartlepool Marina which is expected to create hundreds of jobs.

Last year Jomast, headed by wealthy entrepreneur Stuart Monk, was chosen as the preferred developer for the prime waterfront Maritime Avenue site, known as Jackson Dock.

Negotiations on a 990-year lease for the three-acre site to be let to Jomast have now been concluded after lengthy talks involving owners Hartlepool Council, HMS Trincomalee Trust, and English Partnerships, and other key organisations.

Elsewhere in the North East, Jomast has plans to develop 30,000sqft of offices on the edge of Newcastle city centre, extending the existing complex on Archbold Terrace in Jesmond. The new development has been designed by Ryder architects of Newcastle.

Planning permission for the eight acre site at Hartlepool Marina is expected to be granted at the end of May, with Jomast aiming to build a four star hotel, waterfront apartments, restaurants, shops, offices and business units.

The land deal will result in long-term financial security for the HMS Trincomalee Trust and as part of the deal the trust will repay loans totalling £200,000 to the council.

The proposed scheme is intended to regenerate redundant land at the entrance of the marina at Jackson Dock, and create hundreds of jobs both during and after the construction process.

The scheme will effectively link the marina with Hartlepool town centre and is intended to complement and build upon the regeneration of recent years. Stuart Monk, managing director of Jomast, said: “I am delighted that we have been able to conclude these arrangements with the trust and the council. The proposed development will completely transform this final stretch of waterfront at Jackson Dock, and create a gateway to a vibrant and innovative marina community.

“Our vision for the site fully complements the regeneration that has already taken place at the marina, and will add an exciting new dimension in time for The Tall Ships’ Race in 2010.”

Mr Monk was listed on the Estates Gazette Rich List last year with a fortune of £93m – up from £79m in 2006.

Jomast played a pivotal role in the re-development of Hartlepool Marina and has developed out-of-town offices at Teesdale.