A multi-million pound Joint Venture that will further transform the marina and its environs at Ardrossan has been agreed between Peel Holdings and Irvine Bay Regeneration Company.

The past year has seen detailed negotiations to create the Joint Venture between the regeneration company and Peel to redevelop the former Shell refinery site, which could also see a massive expansion of the marina over the coming years.

Highlights of the proposal include:

• A total of 30 acres of former oil refinery land in the heart of the town cleaned up and redeveloped
• More than 400 new homes created
• 4,000 square metres of offices created, along with a restaurant and a care home
• The creation of new public open space
• A first phase of 165 new berths at the marina, with an eventual additional number of 400-600

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The existing marina was developed in the late 1990s by Peel and Clyde Marina and the 250 berths operate at virtual full capacity. The marina also provides boat repairs and maintenance, sales, hoists and car parking.

This announcement follows hot on the heels of Irvine Bay’s acquisition of a 1.6-acre quayside site from Peel, which will see a mixed-use development including offices, hotel, café and chandlery.

At the company’s Annual Public Meeting yesterday, Chief Executive Patrick Wiggins said: "This is hugely exciting news in the regeneration of Irvine Bay and once final approval is given will lead to the creation of new jobs and opportunities.

"The proposed expansion of the marina at Ardrossan will see a prominent area of the quayside developed and will provide facilities which will be attractive to marina users and to the hundreds of thousands of ferry users who pass through Ardrossan each year on the way to Arran.

"It will create a range of new homes for people, new commercial space, will enhance the living and working experience in the town, and will make our area even more attractive to visitors."

Euan Jamieson, Property Director, Peel added: "This exciting venture builds on the investment and success of earlier phases which were brought about in partnership with Scottish Enterprise and North Ayrshire Council and will continue the ongoing development and improvement of the whole of Ardrossan.

"The existing and proposed marina and leisure facilities will make the area more of a destination for tourism and leisure as well as adding to local facilities."

It is anticipated that decontamination work will begin in the Summer with the first phase of development taking place in 2011.

(GK/CD)