Issue details

To set out one potential option for the future of land at Daedalus, and seek approval of the Executive to proceed with this option.

It is a Council priority to maintain and extend prosperity by working with others to continue to support and promote the economic vitality of the Borough.  And in support of this priority, the Council has committed to work with partners to deliver a thriving aviation-led employment area at the Solent Enterprise Zone at Daedalus, which is supported by a viable airfield.

A significant amount of investment has been made with the aim of regenerating Daedalus East, and unlocking the Waterfront parts of the site.  The development area at Daedalus West is the remaining aspect of the site which has received limited investment.  While Government support has been sought, funding has not been available nor does it appear likely in the foreseeable future.  Consequently, the prospects for Daedalus West are poor in the absence of a further significant tranche of investment at risk.

The paper sets out a proposal which enables the investment at Daedalus to take place, and at the same time provides the greatest prospects for securing the long term viability of the airfield.