Cowes Yacht Haven is to be developed with new marina offices and boatyard workshops, better public access to the site, including a new main entrance and an 80-vehicle car park.

Felix Hetherington, chairman of the Cowes Town Waterfront Trust, said: “The trustees have taken a careful look at how best to help Cowes be the Home of World Yachting and the host venue for existing major events while, at the same time, meeting the needs of those who race in Cowes as well as visiting yachtsmen.

“The intention is to continue to grow the boatyard business with the existing provision of boat storage ashore being complemented by expanding facilities for race boats, stack storage for ribs and small vessels, and services, consistent with demand.”