A year after planning consent, prospects look uncertain for Cleethorpes salmon 'farm' project

                                                  

There is no sign of any start yet to proposed salmon 'farm' development

IT is 12 months today since North East Lincolnshire councillors voted in favour of a controversial onshore salmon-rearing  project in Cleethorpes.

But since then, nothing has been heard from the would-be developers.

The intention of Aquacultured seafoods Ltd  was to start work during 2024 on the scrubland site between Grimsby Town's Blundell Park ground and the North Sea wall.

But as of today, there is no evidence of any activity since  the planning committee made its contentious decision on November 22 last year.

One factor may have been the  Lincolnshire Wildlife Trust's call - endorsed by planners - for no works to begin until measures are in place to safeguard a vanishingly rare butterfly which is believed to have a small breeding colony on the site.

As a further dent to Aquacultured's aspirations,  the welfare charity, Animal Equality, has successfully challenged the lawfulness of the planning decision by securing a judicial review which is not expected to be determined, probably in a Leeds courtroom, until the New Year.

But the biggest challenge for Aquacultured has probably been  to secure the funds - upwards of £65-million - to proceed with the project.

Company representatives have been doing the rounds of investment banks and other potential funders, but  there is no indication that financial institutions have any appetite for investing in a scheme fraught with operational risk and clouded by ethical shadows.

As of December last year, the company's balance stood at just under £754,000 - way short of the monies required.

Its main shareholders are understood to be a duo and  whose names have not featured in previous salmon 'farm' commentary - none other than Ralph George Algernon, the 12th Duke of Northumberland, and his son, George Percy, who was chief executive of loss-making energy company Cluff Geothermal until it was dissolved in July this year.

The Eton and Oxford educated  Duke, who was 68 last Saturday,  is reckoned to be worth £509-million so he would be able to fund the Cleethorpes project outright.

Last month he became a whole lot richer having sold a chunk of his landholdings,  the Rothbury Estate to the Northumberland Wildlife Trust ands its sister  trusts in other counties

It is not known if father and son have visited Cleethorpes to view the site of the proposed development 

Meanwhile, institutional  shareholders in the project are understood to include Cakemuir Castle Pension Fund and Chesham Holdings Ltd, two  organisations about which very little is known.

At last year's planning committee, Aquacultured's application was fronted by businessman Michael Berthet who has interests in hotels and restaurants in Hertfordshire.

However, it is understood he is no longer deemed to have significant control of Aquacultured, and seems possible that the company is now in semi-dormant state.