Thanet Council withdraws from Manston Airport redevelopment plans
Thanet Council has decided not to pursue plans to to buy and re-open Manston Airport.
During a meeting on Thursday (October 29th), council members agreed to take no further action on a Compulsory Purchase Order (CPO) of the airport, which was backed by US firm RiverOak.
The council believed RiverOak didn’t fulfil the requirements needed to become an indemnity partner.
Cllr Chris Wells, leader of Thanet District Council, said: “RiverOak’s failure to respond to the many opportunities they had to demonstrate their suitability as an indemnity partner is genuinely disappointing.
“It does not however diminish our appetite to see the airport up and running. But it has to be done carefully, lawfully and in a manner that does not expose Council Tax payers to risk.”
The council’s decision to pull out came after receiving legal advice from lawyers, who stated that the proposals weren’t financially viable.
The airport has been closed since May last year and the current landowners want to develop the site into a mixed-use development for businesses and homes, creating thousands of jobs in the process.
RiverOak have yet to comment on the council’s decision.
Looking to promote your product or service? Bdaily Marketing can help you reach a regional business audience. Request our latest Media Pack →