This is Cornwall --
Developer Sutton Harbour Holdings has said that it aims to move forward with plans for the redevelopment of Plymouth airport, as its latest financial results reveal the company is back in the black with a focus on the city's waterfront.
The company posted £526,000 in half yearly pre-tax profits yesterday – compared to 2012's £2.75 million loss for the same period to September 30.
It said that the redevelopment of the airport site would help reduce the company's debt, which increased from £17.36 million in March to £20.15 million during the six-month period.
The increase is largely down to its £4.3 million development of the King Point Marina in Plymouth's Millbay, which officially opened in September.
Sutton Harbour, which is focusing upon three core areas for growth – marine operations, waterfront regeneration and destination activities – said that its shareholder-funded Millbay investment demonstrated the company's commitment to Plymouth and the wider region.
Since its opening, 35 of the 171 available berths at the marina have been sold, with a further and 'encouraging' level of enquiries.
It said that the redevelopment of the Plymouth Airport site would also allow resources to be focused on new opportunities in and around Sutton Harbour, as part of a £75 million initiative aimed at turning the city's waterfront into a world-class destination.
This includes blueprints for a proposed £4.5 million waterfront boardwalk at Sutton Harbour, which were unveiled in September.
The plans are a revised version of an initial plan for a boardwalk twice the size in March, which was withdrawn by the company in the wake of local opposition.
Looking to the 113 acre airport site, Sutton Harbour said it is working in accordance with its 150-year lease's obligations, to achieve 'best value through alternative use.'
It says it could accommodate retail, residential, employment and other facilities resulting in 'significant economic and social benefits' for Plymouth, with freeholder Plymouth City Council receiving 75% of revenues from the site's development.
Campaigners still hold out hopes of a rescue plan for renewing aviation links from Plymouth, with Viable Plymouth Ltd leading the vanguard.
Sutton Harbour chief executive Jason Schofield said: "The last commercial flight left Plymouth two and a half years ago and the airport closed two years ago. In that time we have not received a single credible proposal to reopen it or operate from it.
"It is time to move on and look at alternative uses for the former airport site which could deliver hundreds of jobs and a cash windfall for the city council to invest in Plymouth's economy."
In June, Sir Peter Rigby revealed he had spoken with Sutton Harbour about reopening the airport solely for helicopters, in the wake of his company Patriot Aerospace acquiring Exeter Airport.
He told the Western Morning News yesterday: "There have been no recent developments or discussions over the future of Plymouth Heliport.
"However, Rigby Group remains committed to Exeter and the South West and will continue our strategy of improving the region's transport links with the rest of the UK and Europe." Reported by This is 54 minutes ago.
Developer Sutton Harbour Holdings has said that it aims to move forward with plans for the redevelopment of Plymouth airport, as its latest financial results reveal the company is back in the black with a focus on the city's waterfront.
The company posted £526,000 in half yearly pre-tax profits yesterday – compared to 2012's £2.75 million loss for the same period to September 30.
It said that the redevelopment of the airport site would help reduce the company's debt, which increased from £17.36 million in March to £20.15 million during the six-month period.
The increase is largely down to its £4.3 million development of the King Point Marina in Plymouth's Millbay, which officially opened in September.
Sutton Harbour, which is focusing upon three core areas for growth – marine operations, waterfront regeneration and destination activities – said that its shareholder-funded Millbay investment demonstrated the company's commitment to Plymouth and the wider region.
Since its opening, 35 of the 171 available berths at the marina have been sold, with a further and 'encouraging' level of enquiries.
It said that the redevelopment of the Plymouth Airport site would also allow resources to be focused on new opportunities in and around Sutton Harbour, as part of a £75 million initiative aimed at turning the city's waterfront into a world-class destination.
This includes blueprints for a proposed £4.5 million waterfront boardwalk at Sutton Harbour, which were unveiled in September.
The plans are a revised version of an initial plan for a boardwalk twice the size in March, which was withdrawn by the company in the wake of local opposition.
Looking to the 113 acre airport site, Sutton Harbour said it is working in accordance with its 150-year lease's obligations, to achieve 'best value through alternative use.'
It says it could accommodate retail, residential, employment and other facilities resulting in 'significant economic and social benefits' for Plymouth, with freeholder Plymouth City Council receiving 75% of revenues from the site's development.
Campaigners still hold out hopes of a rescue plan for renewing aviation links from Plymouth, with Viable Plymouth Ltd leading the vanguard.
Sutton Harbour chief executive Jason Schofield said: "The last commercial flight left Plymouth two and a half years ago and the airport closed two years ago. In that time we have not received a single credible proposal to reopen it or operate from it.
"It is time to move on and look at alternative uses for the former airport site which could deliver hundreds of jobs and a cash windfall for the city council to invest in Plymouth's economy."
In June, Sir Peter Rigby revealed he had spoken with Sutton Harbour about reopening the airport solely for helicopters, in the wake of his company Patriot Aerospace acquiring Exeter Airport.
He told the Western Morning News yesterday: "There have been no recent developments or discussions over the future of Plymouth Heliport.
"However, Rigby Group remains committed to Exeter and the South West and will continue our strategy of improving the region's transport links with the rest of the UK and Europe." Reported by This is 54 minutes ago.