We understand that there will be conditions attached to the licence and once we know these we will able to confirm the likely development timescale, said the company.

However, we hope to be on site before the end of this year and we expect construction to take approximately 18 months. The development will be on the south side of Gallows Point on the Menai Strait, and will be modelled on the marina at nearby Pwllheli and is expected to bring maximum benefits to local businesses in the area.

When completed, Beaumaris Marina is expected to generate more than £8m per year in the local area, which is said to be one of the most economically deprived in Wales. It will also create around 140 new jobs.