SHP responds to Edi Truell email regarding Manston investment

Earlier this year a meeting took place between Stone Hill Park and speculative investor Edi Truell. At the meeting Stone Hill Park:

  • re-iterated their plans for mixed development of the site;
  • made clear they are not interested in selling the site;
  • highlighted extensive evidence that an airport is not viable.

Stone Hill Park spokesman Ray Mallon said today (15/11/2016):

“I note that in his widely circulated email Mr Truell does not indicate who it is he actually represents or what financial backing he has to fund development projects. In truth I have no idea who it is he now purports to represent, if anyone. The website of his company, Disruptive Capital, makes no reference in the company portfolio to any aviation experience.

“Mr Truell is a speculator and representatives of Stone Hill Park met with him this year out of courtesy, as we have done with various other speculators. We informed Mr Truell of the extensive work that has been carried out analysing possible futures for this site and the clear conclusion from past history, independent studies and industry experts alike that an airport is not viable.

“Stone Hill Park outlined to Mr Truell our vision for a mixed-use development of the site to bring much needed jobs and homes to the area. This vision has now progressed to firm plans which have been lodged with Thanet District Council and are available for all to see.

“These plans envisage a carefully planned development of 2,500 homes built over a 15-20 year period and offering choice across the housing spectrum from first time buyer to executive self build.

“The planned new social infrastructure includes two new schools, a medical centre and community facilities. In addition, the plans include an advanced manufacturing park and large scale sports facilities with a third of the site reserved for parkland, trails and new open space.

“Land has already been gifted to the heritage museums and a number of key features linked to the site’s aviation past will be retained.

“For the avoidance of any doubt, Mr Truell has made no offer to buy the site. This is probably because Stone Hill Park have made it clear to him we have no interest in selling.

“Mr Truell did invite Stone Hill Park to become partners with him in developing an airport.

“Stone Hill Park rejected this because the site is not viable as an airport and anyone who invested in such a scheme – whether it was their own cash or other people’s pensions – would lose their money.

“If Mr Truell really believes an airport is viable he should have produced the evidence during either of the two CPO procedures or for the recent Avia report.

“The fact that he did not suggests his speculation would not bear up to public scrutiny.”