Council and developers finalise terms to secure site for £ 70m Coatham Arena project
NEWS
BUSINESS BITES
New deal - Anglo-Italian agreement provides major boost for Port of Middlesbrough .
Port signs 10-year partnership with Italian offshore wind giant
AV Dawson , owner and operator of Port of Middlesbrough , has signed a long-term partnership with an Italian offshore cable manufacturer .
Prysmian , which has been a tenant at Port of Middlesbrough for several years , has signed a 10-year agreement , cementing a long-term partnership , in preparation for its future growth .
Prysmian , which is a world leader in the manufacture and installation of subsea and offshore wind cables , first started using the port 10 years ago .
With further growth anticipated , Prysmian has secured additional warehousing and office space at the port as part of the new partnership deal . This will support further expansion , accommodating new teams and new jobs in the region .
Charlie Nettle , AV Dawson ’ s group managing director , said : “ We have great relationships with the Prysmian team and a
After months of negotiations , Redcar and Cleveland Council has finalised the option to lease the former Coatham Bowl site to Coatham Arena for the development of a 5,000-capacity multi-purpose indoor arena .
The new Arena will occupy the prime seafront site once home to the renowned Coatham Bowl , which for 40 years , before it was demolished in 2014 , played host to many famous acts such as The Pogues , Fairport Convention , Chris Rea , The Proclaimers , Ozzy Ozbourne , Slade and Whitesnake to name just a few .
Coatham Arena will provide state-of-theart accommodation for elite entertainment ,
real partnership approach between us – we are thrilled that Prysmian wants to continue to call Port of Middlesbrough its home .
“ This new agreement is hugely positive news , not only for Teesside but for the whole of North-East England ’ s offshore wind sector .
“ It really puts Port of Middlesbrough and the wider region on the map .
“ The region has become a hot spot for offshore wind , and it will only get busier as businesses , and the world , continues on the journey to net zero .”
Prysmian is also investing in new vessels to support this growth trajectory . These vessels will be regular callers at the port , collecting offshore wind cable and equipment , to mobilise for offshore wind projects all over the world .
To support Prysmian ’ s growth ambitions , AV Dawson has put significant investment into its port and quayside facilities so it can accommodate these new vessels .
Council and developers finalise terms to secure site for £ 70m Coatham Arena project
Development – Former Coatham Bowl site is to be turned into a £ 70m , multi-purpose arena .
sporting , conference , exhibition and social events all-year round .
The £ 70m project is to be privately funded , with the council receiving an annual rent , business rates and other income .
ANGLO SLOWDOWN Mining giant Anglo American has confirmed that development of the Woodsmith Project that could bring hundreds of jobs to the region will slow .
When complete , the mine will take natural mineral fertiliser from beneath the North York Moors National Park before transporting it via an underground conveyor system to Redcar for export to global markets .
But , while confirming the “ long term potential ” for the Woodsmith project , the firm has now outlined plans to simplify its operations to concentrate on copper and iron ore production .
AVIATION DEVELOPMENT Work on a sustainable aviation fuel plant at Teesworks is to move forward after plans for the groundbreaking project were approved .
Redcar and Cleveland Council has cleared the way for progress on the multi-million pound development after granting planning approval .
Global aviation services group Willis Lease Finance Corporation ( WLFC ) and subsidiary Willis Sustainable Fuels ( UK ) announced plans for the plant at Dorman Point in July 2023 .
TOWN CENTRE WORK Demolition work on the former Marks and Spencer and Goodwins buildings in Redcar town centre has started .
The work will be followed by the construction of an exciting new venue for family-friendly entertainment .
This follows several months of internal works including the safe removal of asbestos , the roof and internal demolition .
BANNATYNE BOOST The Bannatyne Group says it has completed its recovery from the pandemic – with the firm ’ s profits topping the £ 10m mark .
The Darlington-based national health club and hotel operator – owned by serial entrepreneur and former BBC Dragons ’ Den investor Duncan Bannatyne OBE – saw revenue grow nine per cent to £ 139m in the year to December 2023 .
Pre-tax profit grew from £ 1m in 2022 to £ 10.1m last year . This comes after the group made losses of nearly £ 13m in 2021 .
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