Funding pledged to aid community ownership hopes for coastal park

A COMMUNITY'S 14-year battle to reclaim an Anglesey beauty spot from developers could be nearing a turning point.

- Andrew Forgrave

Funding has been reportedly pledged to finance the purchase of Penrhos Coastal Park (CP) depending on insolvency outcomes and a fraud investigation.

A Community Interest Company (CIC) is being established to formalise a possible bid by residents.

This would aim to "facilitate community ownership of Penrhos for the benefit of future generations"

The CIC hopes to overturn planning consent for almost 500 lodges at the 200-acre site.

Having acquired the coastal park in January, new owners the 79th Group talked of a £250m development starting this summer.

But a City of London Police investigation was launched into the Southport-based asset management business.

On February 28, the force said four people connected to the company had been arrested as part of Operation Mold.

Last week, notice was given that eight companies associated with 79th Group had been placed into administration.

They were among a batch of 13 79th Group vehicles that had filed notice of intention to appoint an administrator.