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13th October 2016 - News Articles

Investors "take a fresh look" at Dover as town, Port and waterfront projects get underway

Invest in Dover at MIPIM UK, Olympia, 19-21 October 2016

Multi-million pound investments in town centre, port and waterfront developments, along with a major house building programme will be showcased by INVEST IN DOVER at MIPIM UK, Olympia (19-21 October) the UK’s premier property event. 

Investors are being encouraged to take a fresh look at Dover as one of the largest construction projects in a generation delivers a range of exciting new developments.  This includes Bond City/Legal & General’s £53m St James retail and leisure development, and the Port of Dover’s £250m Western Docks Revival which incorporates a new cargo terminal, logistics hub, and a mixed-use waterfront development.  A major house building programme is also underway across the Dover district.

Bringing together over 400 investors MIPIM UK is the first major property exhibition since Britain voted to leave the EU.  Development opportunities in Dover are expected to attract strong interest as new trading relationships with Europe are forged. 

Tim Waggott, Chief Executive, Port of Dover, said: “Dover is key to our trade with Europe.  Nowhere is better located with the most efficient links to mainland Europe.  We’re confident about the future with new infrastructure to support our ferry operators and their passengers, alongside one of the most ambitious port construction projects in Europe. 

“The £250m Western Docks Revival unlocks the potential of the port’s estate to support our growing cargo and logistics trades, as well as creating an exciting new waterfront development opportunity set against the backdrop of the English Channel and the White Cliffs of Dover.” 

Major UK investor, Legal & General Investment Management Real Assets took a fresh look at Dover in May 2016 when it announced a £53m deal to finance and acquire 156,915 sq. ft. of new retail and leisure space in Dover town centre.  The St James scheme is anchored by a six-screen Cineworld cinema, 108-bed Travelodge hotel, and a host of major retail brands, including M&S and Next.  

Neil Crawford, Head of Retail & Leisure, Legal & General, said: “We see huge potential in Dover.  The St James development provides a step change in the town centre retail and leisure offer and we’re seeing strong interest in the scheme as more and more retailers look to return to the traditional high street.  Coastal communities can be overlooked, but the potential footfall generated by the district’s growth agenda and the Port of Dover traffic is huge.” 

Dover District Council was the first local authority in East Kent to adopt a Local Plan.  This includes a major house building programme as part of plans to grow the population and improve the range and quality of housing.  With HS1 providing high speed links to central London in an hour the Dover district is seeing strong interest for its affordability and coastal lifestyle.  

Cllr Paul Watkins, Leader, Dover District Council, said: “We’re seeing the results of many years of hard work to refocus the investment opportunity in Dover and create 3,000 new jobs.  We’ve built on the strengths of our proximity to Europe with better connections to the capital and a stronger local economy built on key sectors, including maritime, science and engineering. 

“More and people are taking a fresh look at the Dover district with its excellent transport connections, affordable homes and commercial space, and a wealth of leisure and recreation activities.”  

Mark Quinn, Managing Director, Quinn Estates, said: “We’re delighted to be supporting Invest in Dover at MIPIM to showcase our exciting range of residential and commercial developments in the Dover district.  There is a strong level of interest in East Kent, as more and more people find out about the excellent transport connections and quality of life on offer with fantastic coastal and countryside locations.” 

Significant incentives are also on offer to new and growing businesses at Discovery Park.  The UK’s most successful Enterprise Zone is home to over 150 companies and 2,500 employees, with a strong focus on the science and technology sectors.  Discovery Park is currently building 70,000 sq. ft. of new high-tech manufacturing space, and starts work on 500 new homes in 2017.    

INVEST IN DOVER will be on Stand E25 at MIPUM UK, Olympia, 19-21 October.

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