Note that in the article below, Moirai Capital actually mentions relatively small-scale REFURBISHMENT projects (of £1.7 m and £3.5m) NOT large-scale development projects. The North Shields venue was bought from liquidators and refurbished and the Oasis Centre was already owned by Swindon Council and refurbished – the rest of the site has had many delays (see links below) and Moirai only recently put in for outline planning permission for a £120m extension of the sitejust before a final deadline loomed. It was a condition of the new site that the Oasis was first refurbished.
Here is the press release:
“THE developer behind plans for the £18m redevelopment of Exmouth seafront has hit back at criticism from opponents of the scheme.
Pressure group Save Exmouth Seafront has questioned whether developer Moirai Capital Investments has the track record to be capable of delivering the scheme.
It claims several similar high-profile leisure projects the company has previously been involved with in recent years have failed to pass the planning stage.
The group warned East Devon councillors during a meeting at the Knowle that two of the developer’s previous planned projects – including one in Torquay – failed to come to fruition.
But Moirai has told the Echo that the transformation of Exmouth’s Queen’s Drive seafront site is fully on track.
And Chris Lewis, Moirai Project leader, said the firm was delighted to be involved in the project.
He said the projects that did not proceed past the planning stages elsewhere had ended on mutual terms between the company and local council.
And successful projects cited by Mr Lewis include the £3.5m refurbishment of the Oasis centre in Swindon and a £1.7m refurbishment project in North Shields, Newcastle.
Mr Lewis said: “We are delighted to be involved in this exciting regeneration of the seafront at Exmouth, and although our design has been proposed, we look forward to public consultation to further improve and tailor it to the requirements of the town and to increase the number of visitors attending.
“This proposal will complement the new water sport facility being developed.
“Separate development companies are industry practice in regeneration projects to limit risks of other projects and protect each individual project. In all regeneration cases we have worked in association with the local councils’ support, and if projects have not proceeded this has always been with mutual consent.”
He added: “We are optimistic in creating a fabulous development that the town will be proud of and that will generate new jobs and longer staying visitors. All of this will enhance the tourism offer that Exmouth can provide.”
Save Exmouth Seafront chairman Denis O’Day said: “From our research the proposed developer Moirai seems incapable of taking on a project of this size and complexity and I would urge all councillors to really examine this more objectively.”
A spokesman for East Devon District Council said it went through “an appropriate procurement and assessment process with seven interested parties” before settling on the company.
East Devon Watch covered the group’s interests in Swindon on 25 July 2015 here:
It is also covered here:
http://www.talkswindon.org/index.php?topic=9252.30;wap2
and here, where it was criticised for missing deadlines:
http://www.bbc.co.uk/news/uk-england-wiltshire-29116141
Outline planning permission has only recently been sought:
http://www.bbc.co.uk/news/uk-england-wiltshire-29116141
The North Shields water park to which they refer above was NOT developed by them but bought in May 2014 from a company which went into liquidation:
http://www.thejournal.co.uk/business/business-news/wet-n-wild-sold-leisure-7151331
On 12 August 2014 (after the purchase had been finalised on 4 August 2014 and Moirai had appointed Serco to run it) the facility was closed after users reported “breathing and sickness problems” traced to faulty air conditioning equipment and re-opened the next day:
http://www.bbc.co.uk/news/uk-england-tyne-28753449
However, as East Devon District Council has confirmed that it chose Morai from a range of 7 interested parties we can no doubt assume that the agreements in our district will be watertight and that we will get best value.
East Devon Watch 