A £3.4million charge on the former Pleasurama site in Ramsgate has been paid – meaning the title to the derelict site now comes under the sole control of Ramsgate businessman Martin Rigden.
Mr Rigden, also a director of Blueberry Developments, initially took significant control of Ramsgate Development Company – which owns the freehold of the site – in March 2019 but two debts were owed to Panama-based firm Mintal Group.
According to Companies House the charges were satisfied in full on January 27.
Accounts filed up to March 31 2019 show accrued debt of £11 million, up from £9.8 million the previous year. What that debt is made up of is not shown although a loan amount of £6.4 million remains out of the £9.8million listed for 2018. Loans are secured against work in progress.
The long running saga of the seafront site dates back more than 20 years. The plot has been empty since a fire in 1998.
Originally planning permission was given to James Godden, now deceased, for a shopping centre on the land but, in 2001, when it became clear this was not going to materialise Thanet council bought the site by compulsory purchase.
In 2004 planning permission was granted for a 60-bed hotel, 107 residential apartments, leisure facilities and retail.
The deal was headed by development company SFP Venture UK but work never got underway.
In April 2013, Thanet council rejected a bid for SFP to buy the freehold of the site before project completion.
In February 2014 cabinet members agreed to axe the development agreement with SFP, but were unable to reclaim the three 199-year leases for the site because they had no long stop date in the deal.
Talks with Cardy Construction to take over the project by buying out SFP were revealed in September 2014. Cardy Ramsgate Limited purchased 100% shares of SFP Ventures. Contracts, which TDC say included a long-stop date, were signed with Cardy Ramsgate Ltd – an independent company created for the scheme – in March 2015.
Cardy Ramsgate Ltd completed a £3.515 million payment to Thanet council for the site freehold in July 2016. The agreements included a performance monitoring arrangement with two milestone dates to ensure the site was built out. Cardy Construction went into administration the same month.
Michael Stannard, then the sole director of Cardy Ramsgate Ltd, resigned his role on August 15, 2016.
The firm was renamed Ramsgate Development Company Ltd.
Documents on Companies House revealed two people with ‘significant control’ of the Ramsgate Development Company as Colin and Robbie Hill. They are involved with the Panama-based Mintal Group, which had the charge on the seafront site.
Robbie Hill resigned the role in 2016. Colin Hill resigned in March last year.
The registered address for Ramsgate Development Company changed from Essex to Cliff Street in Ramsgate,
Mr Rigden is now the sole director of the company.
No work at the site has been undertaken aside from a survey and hoardings repairs last year. The last contract with Thanet council stated the project must be completed within three-and-a-half years, which would have implied a date of January 2020 if taken from contract completion. However this date has been and gone.
Stipulations within the contract mean if it is not developed then the council has an option to buy it back. It is not clear what sum TDC would need to pay, the £3.5 million the freehold was sold for, the £11million accrued debt or the market value of the land which, if developed, could potentially exceed £30-40 million.
The cliff wall adjacent to the building site remains in the ownership of the council, which is responsible for inspections and its maintenance.
A Thanet council spokesperson said: “The long stop date was extended and as the property has been sold on, we have contacted the new owners about their intentions.”
Read here: Pleasurama: 20 years since site destroyed in blaze
What a web of intrigue… Obviously some very poor decision making by TDC….As is the norm.
Some unscrupulous “developers “ over the years…
Will Mr Rigden right the wrongs ?
Will Thanet ratepayers ever recoup the losses ?
Somebody is going to make a lot of money. But it won’t be Thanet district council or its rate payers
No. He is offshore leaks
WOW what have you been smoking this morning, a lover scorned? or just got out the wrong side of the bed?
Well I really hope Martin Actually does something with it…and not pay off 3.4 million debt set up an SPV and draw some 5/6 million in funding and then go into liquidation like every other local arsewhole has …we will soon know because existing scheme is completely unviable from a commercial perspective so if he doesn’t re submit for planning we know that hes still Just A Thanet Asshole ..fingers crossed but not holding my breath …am 55 haven’t got that many years to waste ….
He is already an offshore leaks firm sane as Mintal Inc
I want a full public enquiry
Same not sane
Research tells me he is andrew
who is taking over the devlopment?
Blueberry Homes are in trouble ..take a look Liam
Is it not time to lay the ghost of the deceased Mr Godden Snr to rest in Margate and Ramsgate plus all other sites associated with his name in the South East. Possibly all still remain derelict and for what aim. We keep on about developing “Brown Field Sites” first. Why are these allowed to remain un-developed for so long. Perhaps more pressure from central Government might assist. ?
Love what you have written – so true.
Buy sell swap this piece of land has been going round and round for years with different owners. Will it at last be developed and will TDC allow whatever is put into the planning portal or will this sorry saga continue for decade after decad?
At the time
2002 Labour set all this up
I have evidence that will make arrests
Sooner rather than later
What do you think
Labour set this up with a known local agent
Arrests will be made soon
An agent that never existed from records from companies House
Same with sfp
The story the hotel had to be built out first
Strangely researching Birchington land at quex Park
Names of directors and companies are linked via an address in Billericay of many involved with this land banking crime
Research of mine telling me Cardy were never going to build they had more ebts than the floors of the hotel being built… Yes, we are ready to build I have on tape
Jimmy Godden had lots of bad luck in his life, what with this fire he had another three, Folkstone , Margate .
Oh and you cannot by law change a company name that’s gone bust or had same directors
Billericay… Tdc you will not pull wool over my eyes
Hooper are you for real?
Originally incorporated on 4/2/2015 as Cardy Ramsgate Ltd
Name changed Ramsgate Development Company Ltd on 1/9/2016
Never been wound up so never “gone bust”
Original Company involved in Pleasurama
SFP Ventures (UK) Ltd incorporated January 2006
Name changed to Aldress Developments SE Ltd 17 Aug 2016
All debts (over £5M) transferred t Ramsgate Development Co Ltd before 30/9/2016
Company still trading currently so not “gone bust”
Ramsgate development https://beta.companieshouse.gov.uk/company/09422758/filing-history
What has happened to The Friends of Ramsgate Seafront? Have they given up with their campaign?
I saw an article on the web a long time ago from an American surveyor about a great storm ripping up the prom many many years ago all the remains were dumped back in to this piece of land so what about the foundations?, the steel reinforcing bars in the columns is now rusty so I would think they would need to be removed? and the made up ground to be re assessed? Maybe Michael’s bookshop have some photos
Company never existed for 4 years according to companies House.
So God help us why the fake name
Are you religious if not you are insulting God… Kathy
If there’s a God I,i don’t suppose he/she/it would be all that bothered by somebody’s pseudonym. Seems a bit trivial in the grand scheme of things.
which 4 years are those Hooper?
If you have some facts by all means post them.
Not seen any so far
I! Not enough red wavy lines!
Let’s just hope that someday soon, Ramsgate seafront has something to be proud of like a super sealife centre some affordable homes, a seaside attraction to bring visitors flocking to our area!!!
Probably never gonna happen but we can all dream.
Land bring used to milk more money from an already run down Ramsgate.
Oh, but we still have our memories of the fun thriving seafront.
The good old days
Make a seafront to be proud if, such a beautiful beach, get the tourists in plus car parking and boost Ramsgate’s economy!