Plans to double pier arcade size set for approval
Plans to almost double the size of a pier's amusement arcade are being recommended for approval, despite concerns over the scale of the development.
The owners of the Wellington Pier in Great Yarmouth submitted proposals last year to expand the site on to derelict land which was once used for an outdoor roller skating rink.
Historic England objected, warning the new-look building would be "large and utilitarian", while failing to preserve the local conservation area.
But it has welcomed the revised proposals and a report by Great Yarmouth Borough Council advises councillors to give planning permission.
The heritage organisation said it still had concerns about the size of the building and that any harm it might cause should be weighed against the public benefits.
The council's conservation officer also voiced opposition to the original plans, but has since worked with the pier's owners - Family Amusements Ltd - on a compromise.
The pier owners have agreed to limit the height of the extension to 7.5m (24ft), rather than 9.2m (30ft) - and the footprint of the building would not be as large.
The report for councillors said the changes to the amusement arcade would bring a number of positives including employment and "bringing back an underused site in the conservation area into use".
It said that its verdict was "finely balanced" but said harms to local heritage were outweighed by longer-term social and economic benefits to jobs and tourism.
A decision is due to be made on the plans on Thursday.
Follow Norfolk news on BBC Sounds, Facebook, Instagram and X.
Office clear-out finds alternative plans for pier
Britannia Pier signage to be preserved by collector
Major facelift planned for landmark pier
Great Yarmouth Borough Council
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
43 minutes ago
- Yahoo
Here's why the Scottish Mortgage share price is back at 1,000p
The Scottish Mortgage Investment Trust (LSE: SMT) share price has risen to £10 again in recent days. This means it's up nearly 50% over the past two years, and 23% since early April. Here, I want to look at what might have fuelled the recent turnaround, and whether it could continue. Scottish Mortgage's focus on disruptive companies more often than not leads it to the tech-packed US stock market, particularly the Nasdaq. Around 61% of the FTSE 100 investment trust's portfolio is in US stocks. Therefore, a recovery in share prices across the pond has underpinned Scottish Mortgage's short-term performance. The Nasdaq is now 28% higher than its April trough. That said, there have also been some notable jumps in a few key holdings. Latin American e-commerce giant MercadoLibre hit an all-time high in early June, as did audio streaming platform Spotify. Indeed, Spotify stock is now up 805% since the start of 2023! While the trust has been selling some Nvidia shares recently, it's still a significant holding (around 2.3% of the portfolio). And the AI chip king has also been on a hot streak, surging 51% since the April sell-off. It should also be noted that the FTSE 100 itself is now just a whisker away from a 52-week high — and therefore a new record. One key theme that Scottish Mortgage has invested in heavily is the digitalisation of global finance. It has called this one of 'the world's most transformative trends'. Key holdings here include MercadoLibre and Nu Holdings (Nubank) in Latin America, Affirm and Stripe (unlisted) in the US, and Sea Limited and Ant Group (unlisted) in Asia. Sea is up 61% this year, while Affirm has rebounded 62% since early April. Somewhat rarely for the trust, it does have a couple of UK-based fintechs in the portfolio. These are money transfer app Wise and neobank Revolut, which is private. The Wise share price jumped close to a record high this week after the firm posted strong annual results. Wise also said it intends to transfer its primary listing to the US, which will allow it to work towards inclusion in major US indexes. Whether the trust keeps rising in the near term is largely dependant on what the US market does. We know Trump's tariffs are hurting the global economy, so this is a risk to American corporate earnings and the value of Scottish Mortgage's portfolio. Investors in the trust need to be prepared to ride out sometimes stomach-churning periods of volatility. On the flip side, the global IPO market is warming back up again (though not in London, unfortunately). Revolut is reportedly preparing for a public listing that could value the company at over $45bn, while Ant Group might list in Hong Kong later this year. These massive IPOs could help boost Scottish Mortgage's net asset value (NAV), assuming they're well-received by investors. It would also help relieve worries about the true value of its unlisted assets. Either way though, I still think Scottish Mortgage shares are worth considering. They're currently trading at an 10.8% discount to NAV, which I think is attractive given the long-term growth potential of the portfolio. The post Here's why the Scottish Mortgage share price is back at 1,000p appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Ben McPoland has positions in MercadoLibre, Nu Holdings, Nvidia, and Scottish Mortgage Investment Trust Plc. The Motley Fool UK has recommended MercadoLibre, Nu Holdings, Nvidia, Sea Limited, and Wise Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
43 minutes ago
- Yahoo
Are these the best American stocks for my ISA?
At the moment, US-listed stocks account for also exactly half of my ISA holdings. To be precise, around 42% of my Stocks and Shares ISA is in cash — I'm a little wary at the moment — and 29% in both international (all North American) and UK-listed stocks. So, why am I a little wary? Well, I'm being more selective about US stocks because the sharp rise in tariffs this year has fundamentally changed the investment landscape. Between January and April 2025, the average effective US tariff rate soared from 2.5% to 27%. These are levels not seen in over a century. It had settled slightly at 17.8% in May, but negotiations are ongoing. Such high tariffs are likely to be raising input costs, squeezing corporate profit margins, and dampening earnings growth. I'm focusing on the metrics because, in today's environment, growth alone isn't enough—valuations must be justifiable. With the S&P 500's forward price-to-earnings (P/E) ratio at 21.3 — above both 5- and 10-year averages — it's crucial to find companies where earnings multiples make sense relative to their growth prospects. As always I'm prioritising growth-adjusted ratios like the P/E-to-growth (PEG) ratio, which help identify stocks offering genuine value for their expected growth, but being even more selective than usual. So, who are they? Well, Pinterest (NYSE:PINS) stands out as fundamentally cheap by most metrics, while Alphabet (NASDAQ:GOOGL) trades at lower multiples than its peers despite similar growth trajectories. In my view, this makes both attractive, non-speculative picks in a market where speculation is increasingly risky. Pinterest currently trades at a forward P/E of 17.7 times and a PEG ratio of 0.53, reflecting strong expected earnings growth at a reasonable valuation. The company's AI-powered ad tools and a growing international user base have driven double-digit revenue growth, with Q1 2025 revenue up 16% year on year and global monthly active users reaching 570m. Despite these strengths, Pinterest remains heavily dependent on digital advertising, making it sensitive to shifts in advertiser budgets and broader economic cycles. It's also very geographically reliant on North America for revenues, and this represents a risk as well as an opportunity. The region represents less than one-fifth of total users but nearly 80% of sales. However, there's plenty to be positive about. Al really seems to be a game changer, and has contributed to the company's improving profitability and attractive growth profile. Alphabet trades at a forward P/E of 17.3 times. That's above the communications sector median of 13.6 but about 30% below its own five-year average, signalling a more attractive entry point relative to its history. The PEG ratio stands at 1.16, lower than the sector's 1.43, indicating solid expected earnings growth for its valuation. I'd also add that Alphabet is more than just a communications stock, which makes its valuation so attractive. Recent performance has been strong. In Q1 2025, Alphabet reported 12% revenue growth to $90.2bn, with Google Cloud up 28% and operating margin expanding to 34%. Risks? There are always risks even with some of the largest companies in the world. One here is Alphabet potentially being forced to divest Chrome in an anti-trust trial. However, for me, its wide economic moat and diversified growth engines underpin long-term appeal. I've recently bought both these stocks. The post Are these the best American stocks for my ISA? appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. James Fox has positions in Alphabet and Pinterest. The Motley Fool UK has recommended Alphabet and Pinterest. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Investing £5k of savings can generate a passive income of…
Buying dividend shares is a rapid and simple way to start earning a passive income. As with every investment, there are risks involved. But such threats can be managed through prudent decision-making and portfolio diversification. And when done well, the subsequent income stream can be quite lucrative, especially in the long run. So let's say an investor has £5,000 of capital sitting in a savings account. How much passive income can this money generate overnight and over the long term? The amount generated depends on which dividend stocks an investor decides to buy. Most tend to stick with simple index tracker funds. And right now, the FTSE 100 index offers a respectable 3.4% yield. That means, overnight, a £5,000 could generate a passive income of £170 a year. Obviously, that's not a groundbreaking sum, especially since many savings accounts offer similar returns right now at much lower levels of risk. However, there's also capital gains to take into consideration. And when combined with the dividend yield, the FTSE 100's historically generated close to an 8% annualised return for investors. Let's assume this trend continues over the next decade. What does this mean for an investor's passive income if they decide to reinvest any dividends between now and 2035? Without any additional capital, the original £5,000 will have grown to around £11,100. And if the yield's still 3.4%, that means the passive income stream will reach £377.40. That's a notable improvement. But what if we can do even better? Instead of relying on an index fund, investors can take matters into their own hands and invest in individual stocks directly. And right now, there are plenty of FTSE 100 constituents offering significantly higher yields. Take Aviva (LSE:AV.) as an example to consider. Today, the insurance giant already offers a more impressive payout with a 5.9% yield. So a £5,000 investment would instantly unlock an annual passive income of £295. But those who hopped on the bandwagon just five years ago are already earning considerably more. Following the appointment of CEO Dame Amanda Blanc in 2020, the company has undergone a significant transformation. It divested its non-core business ventures, raising over £8bn while simultaneously streamlining operations. Pairing this increase in efficiency with boosted activity within the annuity market, courtesy of higher interest rates, shareholders have been immensely rewarded. The Aviva share price has more than doubled, turning a £5,000 investment into £10,400. And at the same time, dividends were hiked by an average of 18% a year, turning an already substantial 5.3% yield at the time into a 12.2% payout. As such, a £5,000 initial investment in 2019 is now generating a passive income of £1,268.80. Sadly, Aviva shares aren't guaranteed to replicate this success between now and 2030. The company's still attempting to digest its £3.7bn acquisition of Direct Line Group. And with the UK government flirting with new mandates to force pension funds to invest more in UK assets, compliance-related costs of evolving regulation could create new headaches that impede performance. Nevertheless, Aviva serves as a good example of how stock picking opens the door to potentially superior returns in the long run. The post Investing £5k of savings can generate a passive income of… appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Zaven Boyrazian has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
