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Home / News and Insights / Press / Pitmans Law advises Red Funnel on multi-million pound development plan for East Cowes

SOUTHAMPTON/ISLE OF WIGHT – Pitmans Law has announced it has been advising long-standing client Red Funnel on their regenerative project to develop their East Cowes freight and passenger terminal.

The project will create a new waterfront with hundreds of new car and lorry parking spaces, and potentially a 60-bed hotel and a substantial number of new houses and apartments. The transformation will boost the island’s economy significantly as well as create new employment opportunities and resolve traffic congestion.

Pitmans Law has been the trusted legal advisor to Red Funnel for many years, advising on a number of their other landmark deals including the £220m sale and reinvestment by management to M&G Investments.

The Pitmans team, led by real estate partner John Newton, were involved in complex and protracted negotiations with the Homes and Communities Agency and other neighbouring landowners.

Pitmans Law specialist construction partner, David Gwillim, is currently advising Red Funnel on the building contracts and the demolitions involved in the project, including that of the Trinity Wharf buildings.

Murray Carter, Operations Director of Red Funnel, said: “This will be good for East Cowes and the Island’s economy. It will create an attractive and efficient gateway to the Island.”

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