Its being reported that, following interest from the property vehicle of Manx resident John Whittaker, shares in UK Coal, Britain's largest coal producer, have risen 30 per cent since the beginning of July.

Peel Land and Property Investments has built a 7 per cent stake in the company since the start of last month.

The reports add that Channel Hotels & Properties, owned by David Kirch, the Jersey-based developer, has also been stake-building, amassing 4 per cent. "The trigger has been the progress by UK Coal's mining operations that have turned around to the extent that they cover debt and pension liabilities - an issue that was thought to have stopped last year's private equity bid for the company. The company has hundreds of acres of brownfield land that might be suitable for industrial and residential usage but the burden of the company's mining operations has, up to now, deterred property investors. Mr Whittaker has not revealed his intentions but he has a history of building stakes in companies before launching a bid- as witnessed in his ?771m takeover of Mersey Docks last year. Its shares may have further to go".