East Cowes’ iconic Columbine Building – famously known for its Union Flag – looks set to be sold to Wight Shipyard Co.
County Hall’s policy, finance and resources committee last Thursday voted in favour of a recommendation for a 125-year leasehold disposal of the Columbine Building to long-standing tenant, Wight Shipyard Co.
A final delegated decision to sell the council-owned building is subject to 5 criteria being met and has not yet been taken.
Criteria include the capital receipt received being ‘at or above’ an independent valuer’s recommendation and the council retaining the Prom building.
There are also to be covenants to keep the site in ‘maritime use’ and to protect the Columbine’s Union Jack doors and white-tailed eagles mural.
Councillors Jonathan Bacon, Andrew Garratt, Ed Blake, Ian Stephens, Chris Quirk, and Ian Ward voted for the sale proposal. The Empowering Islanders group’s Cllr Chris Jarman was the only committee member to vote against – there were no abstentions.
A council report prepared in advance of Thursday’s meeting said:
“In October 2021, the council received £5,841,253 from the UK Government’s Levelling Up Fund (LUF), supplemented by £1,504,945 in match funding from various sources, culminating in a total project budget of £7,346,198, to fund the three core investment elements of the project: The Victoria Barracks, the Columbine and the Public Realm.
Article continues below this advertisement “In February 2024, Wight Shipyard (WSY) the main tenant of the building, approached the council regarding extending their occupation of the building to include two large floors, recently refurbished as part of the LUF works.
“WSY also expressed an interest in purchasing the building to enable potential expansion capabilities. Both proposals align strongly with the council’s strategic goals of supporting local employment, enabling maritime related uses and fostering economic regeneration alongside wider government objectives to support economic growth.”
So how much did the Council get £££. ? Any brown envelopes involved- or is it all shrouded in secrecy ?
You’ve presumably used an old photograph of the place — on 29th April, the building was already labelled Wight Shipyard Co. and I photographed it as such. In other words, the takeover was already a done deal more than six weeks ago.