Joyland Books

Final deadline for sale of Dreamland

A Valentine's day deadline has been set for developers interested in buying Margate's Dreamland to come up with the money, or the owners say they will walk away from the table.
Margate Town Centre Regeneration Company owns the prominent seafront site but has been in talks for months to sell the former fun park to Paigle Properties for £29 million. Toby Hunter, chairman of MTCRC, said it had been in serious negotiations with Paigle, which approached the group to acquire the site since July, and an October deadline to complete had already passed. He said the two companies had negotiated a new deal in January but February 14 was the final deadline for Paigle to come up with the cash.

Mr Hunter said: "We have entered into a new contract with Paigle in January but February 14 is the 'drop dead' date, after which that's it."

He said Paigle had already paid over a £1.3 million deposit which would not be refunded if the deal broke down, adding it had "already been banked".

Mr Hunter said while the delay had been frustrating for MTCRC, the company had been working on its own plans for the Dreamland site which include homes, shops and leisure. He added: "I am a bit down about it. We've had to put our own plans on ice and haven't put in a planning application because we don't want to queer Jane's pitch. On February 15 I will be saying either we move forward with our scheme or that Dreamland has new owners and wish them the very best in what could be a great development."

Thanet council has now agreed its development plan for the area, which would be used to judge any planning applications against.

Paigle's Jane de Bliek said her company was going to buy Dreamland and "we're going to give the rides back to the people of Margate".

Paigle Properties owns the Seabathing Hospital in Westbrook and the Lido in Cliftonville.

If MTCRC, a joint venture between Waterbridge, Jimmy Godden and David Schriber, do sell Dreamland the company will still have an interest in the town. Mr Hunter said the firm is buying a stake in Regal Walk, the town's shopping mall. He added: "We think it is an interesting project and there's a lot that could be done. "I love the town."

Final deadline for sale of Dreamland

...........He added: "We think it is an interesting project and there's a lot that could be done. "I love the town."

'I love the vast pots of cash I can make from screwing the town...'

He said Paigle had already paid over a £1.3 million deposit which would not be refunded if the deal broke down, adding it had "already been banked".

Jim Douglas Jr. wrote:uvegotmale2000, the campaign has fought companies with agendas before.

I wondered if with their quote of giving "the rides back to margate" was would they keep the whole site as a amusement park or have they got an agenda of building home flats etc

Margate Beach contest winner

28 September 2007

Collado Collins has won a competition to design this £600 million mixed-use scheme (pictured) at Margate Beach in Kent.

Backed by local developer Paigle Properties, it includes sea-front leisure space arranged around a listed rollercoaster ride, a retail boulevard lined with palm trees, a 250-bed hotel and 1,800 new homes.

Practice partner Jonathan Collins said: “It represents a shift in attitudes to the British summer holiday.” Supporters say the project would provide a needed boost for the town.