The Isle of Wight Council is expecting at least £20million to be injected into the Sandown area with the redevelopment of Dinosaur Isle and surrounding land.
Secrecy has surrounded the project from Day 1 and it has been rumoured for months that 2 investors are in the running. However, it has been confirmed that just 1 bidder is now in talks with the Council to transform the area into a major attraction.
The 2 interested parties were claimed to be Hampshire-based Winchester Science Centre and the German company behind Dinosaurier-Park Münchehagen and Dino Parque Lourinhã in Portugal.
It’s said that the potential partner not only wants to take on Dinosaur Isle but also seeks to redevelop a larger area surrounding it – which is thought to include the Browns site next door, which could indicate more of a theme park-sized attraction.
Island Echo can reveal that the Isle of Wight Council has spent £1,586 with Dinosaurier Park in Germany for a ‘poster’, indicating an already existing relationship.
The redevelopment would help to attract more visitors, secure jobs and contribute to regeneration in the area.
A final investor has not yet been appointed and a full business plan is yet to be established. It’s noted that these 2 things need to happen, alongside obtaining planning permission, before the project can be progressed. An £800,000 investment from the Isle of Wight Council will also be required.
Latest council documents suggest that the project is at least 2 years away.
Dinosaur Isle and the surrounding land is currently owned freehold by the Council. The facility was built with money from the Millennium Fund in 2000 but a charge against the building was removed in 2017, meaning there would be no financial penalties for the Council if they dispose of the asset. However, if the project was to not go ahead then it is known that significant investment would be required in the building to the tune of £850,000, although some of that work has been completed since 2017.
A further detailed report is expected to go before Cabinet at the earliest opportunity, anticipated to be June 2021.
So there you have it the real reason they forced out Brown’s previous tenant and all that rubbish about trying to find some fool to take it on a short lease.
You also need to ask yourself why the council would need to invest £800,000 in what is a private development?
Is the land going to be sold at market rate? Or are we going to see more dodgy dealings with 999 year lease at a peppercorn rent.
Be brilliant to have this sort of investment on the Island and Sandown in particular.
Browns sold of all their cutting equipment several
months ago as they knew what was probably going to happen.
I’ve always loved Browns but things move on and a theme park investment would be great and create a lot of jobs.
Bring it on!