Sutton Harbour Group is to redevelop an eight acre site at Osprey Quay on the Isle of Portland as a mixed-use scheme.
To be known as Castle Court, the waterside site next to Portland Castle will include a hotel, restaurant, shops, apartments, self catering units, employment space and landscaped public areas.
Part of the scheme is expected to include a permanent base for the Royal Yachting Association’s British senior, youth, junior and paralympic national sailing squads and will play a major role supporting the sailing events for the London 2012 Olympics.
Sutton Harbour signed the development agreement with the South West of England Regional Development Agency (SWRDA) which is co-ordinating regeneration initiatives in the area.