Connect with us
DAPA Banner

Business

Calls for Cornwall hotel scheme to be scaled back over concerns sea views will be blocked

Published

on

Business Live

Residents are worried the ‘oversized’ apartment blocks will dominate the skyline

A view of the new-look hotel from East Street (Pic: Kay Elliott)

A view of the new-look hotel from East Street (Image: Local Democracy Reporting Service / Kay Elliott)

A campaign group is calling for ambitious plans to redevelop a landmark Cornwall hotel to be scaled back in order to prevent what they term as “oversized” apartment blocks from overshadowing the skyline and obstructing sea views in Newquay.

Advertisement

The Save Our Sea Views campaign is advocating for a reduction in the height of a proposed development that aims to refurbish and expand Hotel Victoria on East Street. The project would involve the construction of five residential blocks, housing 81 apartments.

If given the green light, the plans put forward by the Nicolas James Group would result in the demolition of several buildings, including the Griffin Inn, Senor Dicks Mexican Restaurant, a residential property to the north west of the hotel, and 1 Cliff Road.

The applicant intends to redevelop Hotel Victoria under its prestigious Hotel Nici brand, introducing a new 4/5-star hotel to the town.

However, the residents’ campaign group argues the proposals pose a threat to public sea views and could harm the coastal character of the town.

Advertisement

They are appealing to the applicant and Cornwall Council planners to reduce the height and bulk of the proposed apartment blocks, particularly ‘Block G’ on the former Berties nightclub site. They argue that the current designs favour large residential blocks over sensitive, context-led regeneration.

Whilst the campaigners emphasise that they are not against development, they are calling for a “better design that respects Newquay’s identity as a coastal town”.

“Newquay’s connection to the sea belongs to everyone,” said Jessie Jacobs, one of the organisers of Save Our Sea Views.

“From streets like Berry Road and Trenance Road, the sea is part of the public realm. These proposals risk turning open, coastal streets into enclosed corridors of concrete. Once those views are gone, they’re gone forever.”

Advertisement

The campaign raises concerns that the apartment blocks take centre stage in the current proposals, whilst the hotel itself isn’t scheduled for redevelopment for several years.

Locals worry this could lead to oversized residential blocks dominating the skyline, whilst sections of the site lie vacant or underutilised.

“This risks the worst of all outcomes,” said Ms Jacobs. “Permanent harm to public sea views now, with the promised benefits of hotel regeneration delayed for years. That is not balanced, responsible development.

“This is not about stopping regeneration. It’s about shaping it properly. Newquay deserves development that enhances the town, not overwhelms it.”

Advertisement

The campaign group has launched a public petition. They have also urged anyone opposing the development to submit planning objections.

Despite opposition from the Save Our Sea Views campaign group, the planning application has attracted just six public responses on the council’s portal to date – four objections and two in support.

Validated by the council on January 14, the application remains pending a decision.

Representing the Nicolas James Group, architects Kay Elliott have previously said: “The ambition is to reposition Hotel Victoria as a luxury hotel as part of the client’s Hotel Nici brand. In order to support the level of investment the development will include new stand alone residential apartment buildings located on brownfield land to the east and west of the hotel.”

Advertisement

According to a design statement, the site benefits from prominent views from multiple vantage points throughout the town. “It will be important to maintain these views of the hotel and enhance them from the closer views.

“The site sits within the setting of St Michael’s Church, this is an important part of the local area and its tower is a significant feature in the townscape. Proposals will need to maintain the prominence of this feature and blend into the surrounding townscape when viewed from afar.”

The planning documents emphasise that the proposed apartment blocks remain subordinate in height to the hotel, sitting “comfortably” beneath its roofline.

“The massing of these blocks is restrained and set back from the cliff edge to allow for the views into the site to be maintained and enhanced.”

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

Why I Don't Invest In BDC ETFs, But Only Cherry-Pick My Own

Published

on

Why I Don't Invest In BDC ETFs, But Only Cherry-Pick My Own

Why I Don't Invest In BDC ETFs, But Only Cherry-Pick My Own

Continue Reading

Business

Can Any Investor Actually Value SpaceX? (Private:SPACE)

Published

on

Can Any Investor Actually Value SpaceX? (Private:SPACE)

This article was written by

I’m a retired Wall Street PM specializing in TMT; since kickstarting my career, I’ve spent over two decades in the market navigating the technology landscape, focusing on risk mitigation through the dot com bubble, credit default of ‘08, and, more recently, with the AI boom. In one word, what I’d like my service to revolve around is momentum.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

Barclays to open new branches and revive bank manager role in high street comeback

Published

on

Barclays plans to launch a string of “banking pods” after recently announcing more branch closures.

Barclays is charting a decisive U-turn on the high street, with plans to open new branches across the country and reinstate the once-familiar “bank manager” job title, a move that signals a broader rethink of how Britain’s traditional lenders compete in an increasingly digital age.

Vim Maru, who has led Barclays UK since 2024, told Business Matters that the bank intended to grow its branch network beyond the current 206 outlets, having already paused a closure programme that saw roughly 80 per cent of its branches shut since 2019. One of his first acts after taking charge was to halt the cull, and he is now pressing ahead with expansion, though he declined to put a precise figure on how many new sites would open.

The shift comes as digital-only challengers such as Revolut and Wise make increasingly aggressive moves into the current-account market, threatening the established banks’ grip on everyday consumer banking. Rather than trying to outpace them on technology alone, Maru is placing his chips on a blend of slick digital services and genuine, in-person support, what he described as the winning formula for modern banking.

He was characteristically blunt about the shortcomings of purely automated customer service. Barclays customers, he insisted, would not find themselves trapped in an endless loop with a chatbot when they needed real help. The bank has also quietly reintroduced traditional role titles, so that customers walking through the door can once again ask to speak to the branch or bank manager.

Maru stopped short of conceding that Barclays had been too aggressive in its earlier round of closures, but acknowledged that the bank needed to reassess how it served its customers every few years. The new branches will sit alongside the shared banking hubs operated through the Post Office, rather than replace them.

Advertisement

Beyond the branch network, Barclays is pursuing growth on several fronts. The bank reported a record number of mortgage applications last year, with processing times slashed from 45 minutes to just 15 thanks to technology improvements that have proved popular with brokers. Its acquisition of the Tesco credit card business in 2024 and Kensington Mortgages, which has doubled in size since Barclays bought it in May 2023, have broadened the division’s reach considerably.

Artificial intelligence is also being deployed to streamline internal processes, though Maru was cautious about the workforce implications. He drew a parallel with the introduction of ATMs, noting that while the machines were expected to eliminate cashier roles, the subsequent rise in fraud and scams meant staff were redeployed rather than made redundant.

On the broader economy, Maru offered a measured reading from the bank’s unique vantage point. Consumer spending has shown resilience, with hospitality holding up well despite a period of heightened anxiety following the outbreak of the Iran conflict. In the opening days of the war, there was a noticeable surge in fuel purchases as motorists rushed to fill up ahead of expected price rises, though spending patterns quickly normalised.

With Barclays chief executive CS Venkatakrishnan having committed to investing £30 billion more in the UK between 2024 and this year, and despite persistent speculation about possible acquisitions of the likes of Santander UK or TSB, Maru said his priority remained organic growth. The bank, he maintained, already had strong momentum — and a renewed high street presence to match.

Advertisement

Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

Advertisement
Continue Reading

Business

Hut 8: Why The River Bend Expansion Justifies A Buy Rating

Published

on

Bitfarms Rebrands To Keel Infrastructure, But Financial Engineering Still Weighs

Hut 8: Why The River Bend Expansion Justifies A Buy Rating

Continue Reading

Business

8 stocks surged over 50% in each of the last 3 fiscal years; rally up to 3,100%

Published

on

The Economic Times

Eight stocks have delivered over 50% returns in each of the last three fiscal years, defying broader market volatility. With gains ranging from 500% to over 3,100%, these consistent outperformers highlight strong underlying momentum despite fluctuating benchmark returns across FY24 to FY26.

Continue Reading

Business

Starwood Property Trust: The Market Is Handing You An 11% Yield At A Deep Discount

Published

on

HYMB: Solid High-Yield Muni Bond ETF, Above-Average Tax-Advantaged Income (NYSEARCA:HYMB)

Starwood Property Trust: The Market Is Handing You An 11% Yield At A Deep Discount

Continue Reading

Business

Bandhan Bank Q4 business update: Advances rise to Rs 1.54 lakh crore, deposits up 10%

Published

on

Bandhan Bank Q4 business update: Advances rise to Rs 1.54 lakh crore, deposits up 10%
Bandhan Bank posted healthy growth in advances along with steady deposit mobilisation for the quarter ended March 31, 2026, as per its provisional update released on Saturday. The bank’s loans and advances, including on-book and PTC, stood at Rs 1.54 lakh crore at the end of the March quarter, registering a 12.6% year-on-year increase and a 6.2% sequential rise.

Total deposits came in at Rs 1.66 lakh crore, up 10% from a year ago and 6.1% higher on a quarter-on-quarter basis. CASA deposits rose 2.8% year-on-year to Rs 48,751 crore, with the CASA ratio at 29.31% at the end of the quarter.

Retail term deposits saw strong growth, increasing 30.1% year-on-year to Rs 73,796 crore. Overall retail deposits, including CASA, rose 17.7% to Rs 1.22 lakh crore. Bulk deposits declined 6.9% year-on-year to Rs 43,797 crore. Meanwhile, the share of retail deposits in total deposits improved to 73.67% from 68.88% in the same period last year.

The bank reported a liquidity coverage ratio of about 131.76% as of March 31, 2026. Collection efficiency remained robust, with pan-bank efficiency, excluding NPAs, at 98.9% for March 2026, compared to 98.1% in December 2025.

Advertisement

Banking stocks have come under sharp pressure over the past three months, with most lenders underperforming the benchmark Nifty 50 amid a challenging macro backdrop marked by sustained foreign institutional investor (FII) outflows, escalating geopolitical tensions, and a surge in energy prices. Bandhan Bank is down 18% in the last 1 month.


The underperformance comes amid persistent FII selling, which has disproportionately impacted financials due to their heavy weightage in benchmark indices. At the same time, the escalation of the Iran-Israel conflict has triggered a spike in crude oil prices, raising concerns over inflation and delaying expectations of interest rate cuts by global central banks.
The lender has also been in the headlines after The Economic Times reported that Bandhan Financial Services is exploring exit options for its long-term investors, including GIC Ventures and International Finance Corporation.Also read: HDFC Bank Q4 business update: Lender reports 15% YoY growth in deposits, advances jump 12%

The report said the company has appointed Jefferies to assess investor interest, particularly from private equity funds. The move is also in line with regulatory requirements that mandate Bandhan Financial to reduce the promoter’s stake in the bank to 26% by 2030.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Continue Reading

Business

5 Relatively Secure And Cheap Dividend Stocks, Yields Up To 8% (April 2026)

Published

on

5 Relatively Secure And Cheap Dividend Stocks, Yields Up To 8% (February 2026)

This article was written by

Financially Free Investor is a financial writer with 25 years investment experience. He focuses on investing in dividend-growing stocks with a long-term horizon. He applies a unique 3-basket investment approach that aims for 30% lower drawdowns, 6% current income, and market-beating growth on a long-term basis and he focuses on dividend-growing stocks with a long-term horizon.
He runs the investing group High Income DIY Portfolios which provides vital strategies for portfolio management and asset allocation to help create stable, long-term passive income with sustainable yields. The service includes a total of 10 model portfolios with a range of income targets for varying levels of risk, buy and sell alerts, and live chat. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ABT, ABBV, CI, JNJ, PFE, NVS, NVO, AZN, UNH, CL, CLX, UL, NSRGY, PG, TSN, ADM, BTI, MO, PM, KO, PEP, EXC, D, DEA, DEO, ENB, MCD, BAC, PRU, UPS, WMT, WBA, CVS, LOW, AAPL, IBM, CSCO, MSFT, INTC, T, VZ, CVX, XOM, VLO, ABB, ITW, MMM, LMT, LYB, RIO, O, NNN, WPC, ARCC, ARDC, AWF, CII, TLT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Disclaimer: The information presented in this article is for informational purposes only and in no way should be construed as financial advice or a recommendation to buy or sell any stock. The author is not a financial advisor. Please always do further research and do your own due diligence before making any investments. Every effort has been made to present the data/information accurately; however, the author does not claim 100% accuracy. The stock portfolios presented here are model portfolios for demonstration purposes. For the complete list of our LONG positions, please see our profile on Seeking Alpha.

Advertisement

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Continue Reading

Business

Target Hospitality Stock Set To Benefit From String Of Contract Wins (NASDAQ:TH)

Published

on

Target Hospitality Stock Set To Benefit From String Of Contract Wins (NASDAQ:TH)

This article was written by

Value-oriented ideas and special situations, generally mid/small cap. Also, orphaned and unfashionable investment ideas, ideally with a catalyst and the prospect of asymmetric upside/downside payoffs. Contrarian tendencies. To some extent I’ll go anywhere if it’s cheap and I’m more influenced by momentum and quality than I used to be.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of TH either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Not intended as investment advice. Author’s opinion only. Article may contain errors/inaccuracies and will not be updated. Author’s holdings may change without notice. Any statements about the future are completely uncertain and should be interpreted as such. Seek professional investment and tax advice before any investment decision.

Advertisement

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Continue Reading

Business

AU Small Finance Bank Q4 business update: Deposits up 23% YoY at Rs 1.52 lk cr, advances rise 25%

Published

on

AU Small Finance Bank Q4 business update: Deposits up 23% YoY at Rs 1.52 lk cr, advances rise 25%
Private sector lender AU Small Finance Bank reported steady growth across key balance sheet items, its fourth-quarter business update on Saturday showed.

The bank’s total deposits stood at Rs 1.52 lakh crore as of March 31, 2026, registering a 22.8% year-on-year growth and a 10.3% increase sequentially from Rs 1.38 lakh crore as of December 31, 2025. CASA deposits came in at Rs 43,360 crore, up 19.6% year-on-year and 8.5% quarter-on-quarter. However, the CASA ratio stood at 28.4%, compared to 29.2% a year ago and 28.9% in the previous quarter.

On the advances front, gross advances stood at Rs 1.36 lakh crore, reflecting a 25.1% year-on-year growth and an 8.7% rise sequentially from Rs 1.26 lakh crore. The bank’s securitised and assigned portfolio was reported at Rs 4,290 crore, compared to Rs 6,926 crore in the year-ago period and Rs 4,689 crore in the previous quarter.

Overall, the gross loan portfolio (A+B) stood at Rs 1.40 lakh crore as of March 31, 2026, marking a 21.3% year-on-year growth and an 8% increase quarter-on-quarter from Rs 1.30 lakh crore.

Advertisement

Banking stocks have come under sharp pressure over the past three months, with most lenders underperforming the benchmark Nifty 50 amid a challenging macro backdrop marked by sustained foreign institutional investor (FII) outflows, escalating geopolitical tensions and a surge in energy prices. AU Small Finance Bank shares have declined 13% since the beginning of the year.


The underperformance comes amid persistent FII selling, which has disproportionately impacted financials due to their heavy weightage in benchmark indices. At the same time, the escalation of the Iran-Israel conflict has triggered a spike in crude oil prices, raising concerns over inflation and delaying expectations of interest rate cuts by global central banks.
In a separate development in February, the Haryana government de-empanelled the lender from government business after suspected fraudulent activities were disclosed.The company issued a clarification late Sunday, stating it initiated an internal review regarding two accounts in question. The bank further said that both these accounts were “duly opened after completion of all applicable KYC checks and requisite authorisations” and were in accordance with the bank’s internal policies and processes.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Continue Reading

Trending

Copyright © 2025