“It is our commitment to report the facts. Therefore, the media reports in this section reflect factual information.”

 

 

 

 

Howard Holdings commissioned Bournemouth University to undertake an economic impact study on the planned, £120 million regeneration of the 10-acre Pavilion & Ferry Terminal site in Weymouth. The results show a likely estimated economic benefit in excess of £11,304,000 million per annum.

 

Tourism is the largest industry in Weymouth and the study reveals an anticipated increase in day visits from 983,000 to between 1,061,640 and 1,150,110 and staying visitor nights from 2,225,600 to between 2,313,321 and 2,357,833. These figures represent additional visitors, not those displaced from other locations within the town.

 

 

In terms of employment, initial research indicates more than 400 additional jobs are expected to be generated as a direct result of the development once complete. This represents a 2.7% increase of jobs within the town excluding jobs generated during construction.

 

 

The scheme will also deliver a balance between housing and employment considered essential within Weymouth. It will maintain buoyancy in the housing market and there will be an increase in turnover for existing commercial outlets, specifically those who cater for the expected needs of the occupants of the residential units as well as visitors.

 

 

The report concludes that the Pavilion & Ferry Terminal site project encompasses the vision of development within Weymouth, providing shopping, tourism, recreation and community facilities that will wholly support Weymouth’s place as a sub-regional centre.

 

 

Further stories will be issued over the course of March that focus on different topics in more detail. They will include: tourism, economy, employment, residential and leisure. All of the survey results do not take into account the additional benefits that London 2012 will have in the years running up to and during the sailing events or the benefits that other developments already underway in the borough will bring.

 

 

The regeneration project planned for the 10 acre site will comprise up to 345 residential units, a high quality 120-150 bed hotel, a marina of up to 150 berths as well as bar bistros, restaurants and retail outlets around a public square. In addition, the project will deliver a completely remodelled Pavilion Theatre complex including a new performance space, a new ferry terminal, the re-provision of 400 public car parking spaces for use by both theatre patrons and visitors, a new World Heritage Site Visitor Centre and large public spaces.

 

To download a copy of the completed study please click the link: Economic Impact Study