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Scottish Sun
2 days ago
- Business
- Scottish Sun
Britain's ‘trendiest' beach town is set for biggest transformation in a DECADE as fresh plans unveiled
Luxury beachfront properties have already been built at the site FIRST GLIMPSE Britain's 'trendiest' beach town is set for biggest transformation in a DECADE as fresh plans unveiled Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) NEW plans have been revealed for a seaside development project - months after the council blocked proposals. The seaside town was named Time Out's top place to visit in the UK in 2025, as stats suggest it is one of the world's most 'up and coming' beach destinations. Sign up for Scottish Sun newsletter Sign up 3 The plans were narrowly rejected by the local council in January of this year Credit: Folkestone Harbour & Seafront Development Company 3 A total of 84 luxury beachfront properties have already been built at the site Credit: Folkestone Harbour & Seafront Development Company 3 The revised proposals could bring significant change the seaside town Credit: Folkestone Harbour & Seafront Development Company Folkestone harbour and seafront could undergo a significant transformation if development plans are approved. While Sir Roger De Haan's Folkestone Harbour and Seafront Development Company has already made significant changes to the area - they are still awaiting approval for the eastern section of the seafront. The company previously submitted development plans in January which were narrowly refused. Councillors voted 5-4 to reject the application, expressing concerns about the design, heritage impacts and housing affordability. Read more News MADDIE RIDDLE Maddie suspect mystery as 'huge sum he spent after she disappeared' revealed Public response was less favourable, with 96% of comments on the council's planning portal objecting to the proposals. After making revisions to the plans that address the councillors' concerns, FHSDC is hoping the new proposal will be approved at a planning committee meeting on June 17. One of the most drastic changes between the proposals is a 50 per cent increase in public parking provisions. The increase correlates to 323 proposed public spaces, up from 215 in the original proposal - as well as a car club that should reduce pressure on residential parking. They have also made alterations for the proposed plan to build 410 homes and 54 commercial units. This will include 53 affordable homes, intended for shared ownership in order to meet affordability needs - as the original proposal faced backlash for failing to address local social issues. The up-and-coming English seaside town with cheap booze and huge beaches The new proposal includes more three-bedroom homes, as well as moving one of the proposed buildings away from the harbour station to "better respect" its historic setting. 84 beachfront properties have already been built, with prices ranging from £430,000 to £2.1 million. FHSDC released a statement clarifying the restrictions they faced under the council's Local Plan. The statement from FHSDC reads: 'The original permission dictated, for example, the maximum and minimum height of the buildings, and a maximum and minimum number of homes we can build, and these cannot be changed through a Reserved Matters Application. 'Any revised plans must remain within these, and other, parameters.' Local residents had previously expressed concern about the project's design, as well as the lack of affordable housing. One particularly outspoken resident, Georgina Baker, campaigned against the development as she believed it was "not the right development for the harbour" and that the "community deserves more." However, FHSDC consultants believe the development would do more good for the area, with an emphasis on social benefit. The proposal includes a new Section 106 agreement to contribute £5.19 million to local services including children's play areas, GPs, schools, social care, libraries and youth services. This is in addition to the amount promised in the original proposal, bringing the total contribution to £8.72 million. It is estimated that the development could generate 760 long-term jobs, boost the local economy by £21 million each year, and generate £148 million during construction. With the luxury accommodation expected to attract wealthy residents, it is estimated to bring £9.4 million in annual spending, with almost £1 million in further tax revenue. FHSDC told Kent Online that they hoped to correct the misinformation about the historic buildings on the development site. A spokesperson said: "Ten years ago, the original outline planning permission provided for the demolition of the station, Customs House and Signal Box. "At the time, these buildings were dangerous and inaccessible to the public. "Sir Roger De Haan decided to restore and retain the station rather than demolish it and to prioritise its place in the development." In addition to the residential properties, the development would create 7,489 square metres of commercial space used for leisure facilities, restaurants, bars and retail outlets. The upcoming planning meeting will decide the fate of the remaining section of the project. It comes as other areas of Folkestone are undergoing their own redevelopment. A £20 million revamp is set to turn the bus station into a central park - complete with a plaza area, fountains and surrounding gardens. The town's Lower Leas funicular is also undergoing a £6.6 million restoration - with the hopes it will be reopened by early 2026 after it closed nearly 10 years ago.
The Irish Sun
2 days ago
- Business
- The Irish Sun
Britain's ‘trendiest' beach town is set for biggest transformation in a DECADE as fresh plans unveiled
NEW plans have been revealed for a seaside development project - months after the council blocked proposals. The seaside town was named Advertisement 3 The plans were narrowly rejected by the local council in January of this year Credit: Folkestone Harbour & Seafront Development Company 3 A total of 84 luxury beachfront properties have already been built at the site Credit: Folkestone Harbour & Seafront Development Company 3 The revised proposals could bring significant change the seaside town Credit: Folkestone Harbour & Seafront Development Company Folkestone harbour and seafront could undergo a significant transformation if development plans are approved. While Sir Roger De Haan's Folkestone Harbour and Seafront Development Company has already made significant changes to the area - they are still awaiting approval for the eastern section of the The company previously submitted development plans in January which were narrowly refused. Councillors voted 5-4 to reject the application, expressing concerns about the design, heritage impacts and housing affordability. Advertisement Read more News Public response was After making revisions to the plans that address the councillors' concerns, FHSDC is hoping the new proposal will be approved at a planning committee meeting on June 17. One of the most drastic changes between the proposals is a 50 per cent increase in public parking provisions. The increase correlates to 323 proposed public spaces, up from 215 in the original proposal - as well as a car club that should reduce pressure on residential parking. Advertisement Most read in The Sun They have also made alterations for the proposed plan to build 410 homes and 54 commercial units. This will include 53 affordable homes, intended for shared ownership in order to meet affordability needs - as the original proposal faced backlash for failing to address local social issues. The up-and-coming English seaside town with cheap booze and huge beaches The new proposal includes more three-bedroom homes, as well as moving one of the proposed buildings away from the harbour station to "better respect" its historic setting. 84 beachfront properties have already been built, with prices ranging from £430,000 to £2.1 million. Advertisement FHSDC released a statement clarifying the restrictions they faced under the council's Local Plan. The statement from FHSDC reads: 'The original permission dictated, for example, the maximum and minimum height of the buildings, and a maximum and minimum number of homes we can build, and these cannot be changed through a Reserved Matters Application. 'Any revised plans must remain within these, and other, parameters.' Local residents had previously Advertisement One particularly outspoken resident, Georgina Baker, campaigned against the development as she believed it was "not the right development for the harbour" and that the "community deserves more." However, FHSDC consultants believe the development would do more good for the area, with an emphasis on social benefit. The proposal includes a new Section 106 agreement to contribute £5.19 million to local services including children's play areas, GPs, schools, social care, libraries and youth services. This is in addition to the amount promised in the original proposal, bringing the total contribution to £8.72 million. Advertisement It is estimated that the development could generate 760 long-term jobs, boost the local economy by £21 million each year, and generate £148 million during construction. With the FHSDC told A spokesperson said: "Ten years ago, the original outline planning permission provided for the demolition of the station, Customs House and Signal Box. Advertisement "At the time, these buildings were dangerous and inaccessible to the public. "Sir Roger De Haan decided to restore and retain the station rather than demolish it and to prioritise its place in the development." In addition to the residential properties, the The upcoming planning meeting will decide the fate of the remaining section of the project. Advertisement It comes as other areas of Folkestone are undergoing their own redevelopment. A The town's
Reuters
11-04-2025
- Business
- Reuters
Holiday group Saga's chairman boosts stake to 27% in company
April 11 (Reuters) - British holiday group Saga's (SAGA.L), opens new tab biggest shareholder, chairman Roger De Haan, has raised his stake to 27%, a filing showed on Friday. De Haan, the son of Saga founder Sidney De Haan, previously served as CEO, then sold the company in 2004. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. He returned to the firm as non-executive chairman in 2020 and announced plans to invest up to 100 million pounds in Saga, representing a 26.40% stake, according to a regulatory filing published in October 2020. Saga focuses on providing travel and insurance services to people over the age of 50. A regulatory filing from June 2024 showed that Dubai-based investor Eldose Babu had taken an 8% stake, making him Saga's second-largest shareholder. Saga has been taking steps to return its core focus to travel as it navigates a year in which it expects costs to rise.
Reuters
29-01-2025
- Business
- Reuters
Holiday group Saga to refinance debt worth $559 million, Sky News reports
Jan 29 (Reuters) - Britain's Saga (SAGA.L), opens new tab is likely to announce a deal to help the holiday group refinance more than 450 million pound ($559.4 million) of its existing debt on Thursday, Sky News reported on Wednesday. Saga, which specialises in cruise packages for people over 50 years of age, is lining up HPS for the deal, Sky News added. HPS is being acquired by asset manager BlackRock. The deal, which financiers expect to be announced along with Saga's first-quarter trading statement before the market opens on Thursday, is likely to include a bond and loan from chairman Roger De Haan and Saga's revolving credit facility, the report said. London-listed Saga sold its insurance underwriting business for $88.1 million to Belgian firm Ageas ( opens new tab in October after facing challenges with the unit's performance. Saga declined to comment on the report, while HPS did not immediately respond to Reuters' request for comment. ($1 = 0.8044 pounds)
Yahoo
29-01-2025
- Business
- Yahoo
Saga sets sail with £450m HPS refinancing boost
Saga, the financial services and travel provider to the over-50s, is tapping one of the world's biggest investment firms as part of a refinancing aimed at relieving pressure on its balance sheet. Sky News has learnt that London-listed Saga is lining up HPS - which is in the process of being taken over by the asset management behemoth BlackRock - to help refinance more than £450m of its existing debt. Financiers said an agreement was likely to be announced alongside a scheduled trading update from the company on Thursday morning. Money latest: The debt involved in the deal comprises a bond, a loan from chairman Sir Roger De Haan and Saga's revolving credit facility. A refinancing will be a boost to Saga, which has been weighed down by a debt pile which is huge relative to the value of its equity. It will come months after the company struck a partnership deal with the Belgian insurer Ageas, which involves a series of cash payments to the British business. In February last year, it also held talks with Open, an Australian company, about a sale of the division but the discussions fell apart. Saga has previously signalled that it would explore a similar partnership model for its cruises division, although a transaction is not thought to be imminent. Shares in Saga have fallen by just over 20% during the last 12 months, leaving it with a market capitalisation of about £165m. Read more from Sky News:Lloyds to cut 136 group branchesChancellor backs Heathrow third runwayPost Office unveils new wave of cuts Mr de Haan, the company's former chief executive, was parachuted back in to lead a turnaround in the summer of 2020, investing £100m as part of a broader capital-raising. That came after it spurned a takeover bid for the whole company from private equity investors. A Saga spokesperson declined to comment on Wednesday evening.
