Market Leads & Opportunities
£57m Pleasure Island redevelopment moves forward
Plans for the £57m redevelopment of the Pleasure Island theme park in Cleethorpes have moved forward with the completion of the purchase of the site.YPG Fab 2, owned by Adrian Smith and Ming Yeung, is now set to submit a planning application for the project within weeks.The proposed development would comprise 250 holiday lodges in lakeside and beachfront locations, a 146-bed hotel, restaurants and leisure facilities including a family gaming centre.Smith led the conversion of a former brewery into apartments at The Cooperage and the renovation of The Imperial Hotel. Yeung was behind the redevelopment of the former Birds Eye Wall’s site in Ladysmith Road to provide 250 new homes as well as multimillion-pound regeneration projects in Liverpool, including the Hilton Garden Hotel, Russell Hotel and Magistrates Boutique Hotel as well as a series of stylish dockside residential developments. The investors are partners in a specialist leisure sector business Seaside Getaways Ltd, which is based in Liverpool.Public consultation on the project is currently being undertaken through a survey at www.cleethorpesconsultation.co.uk, with more than 95 per cent of respondents agreeing that there is a need for regeneration, more than 70 per cent supporting the mix of holiday resort, leisure and retail uses and just over 69 per cent in favour of the proposals generally.National planning and development consultancy Lichfields has previously been appointed to progress the plans.
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