Take out impairment costs, fair value adjustments and provisions, and waterfront regeneration specialist Sutton Harbour (SUH) delivered profits of £0.33m in the year to March 2017, against £0.41m a year earlier.
Much of the decline reflected the departure of three longstanding tenants as the properties affected remain vacant, while there was a small decline in occupancy in the two marinas.
Sutton Harbour also owns the lease on the now closed Plymouth airport, and a concept master plan for a garden suburb with around 1,500 new homes and education, healthcare and sports facilities was given a boost after the Department for Transport ruled that there is no realistic prospect of reviving commercial passenger services. A public hearing is due later this year with a government planning inspectors report planned to follow in 2018.
Further evidence has been submitted to the Marine Management Organisation to obtain licensing for a 7,800 sq ft pier like structure, with the results of this expected in a few months. Planning consent had already been granted in 2015.
Trading at the fisheries hub saw a record £19.7m of fish passing through, but as processing on site has diminished, there are plans for a reconfiguration that could include greater access for the general public through establishing a retail fish market and restaurants.
