Redrow Group PLC
3 March 2000
REDROW GROUP PLC ANNOUNCES ACQUISITION OF TEN NEW SITES AND PLANNING
PERMISSION ON TWO SITES WITH A TOTAL DEVELOPMENT VALUE OF £210M.
Redrow Group plc is pleased to announce that since the beginning of January
2000 its housing subsidiaries have acquired ten new development sites. These
sites represent approximately 900 plots and have an estimated development
value of £150m. Over 75% of the plots are on brownfield sites which is well
in excess of Government's stated objective of 60%.
The sites include a new development in London Dockland's at Winkley's Wharf on
the Isle of Dogs. The new project is to be known as Odyssey and will include
over 400 residential units as well as retail and leisure facilities.
In addition to the ten sites acquired, two sites controlled under contract
have now received planning permission.
Redrow Homes (South East) has recently secured at appeal a planning consent
for 46 residential properties set in 33 acres on the former Smith Kline
Beecham site at Brockham Park, Betchworth in Surrey. This prestige
development will include substantial detached properties and has an estimated
sales value of around £25m.
Redrow Homes (Northern) has received planning permission to develop 227
apartments and 9000 sq.ft. of retail space on a site at Whitworth Street in
the centre of Manchester. This new build scheme has a development value of
around £35m.
For further information contact:-
Neil Fitzsimmons, Finance Director
Redrow Group plc
Tel: 01244 520044
Stephen Breslin/Claire de Sousa
Brunswick Group plc
Tel: 0171 404 5959
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