Planning recommendation for foodstore

RNS Number : 5301O

Terrace Hill Group PLC

20 September 2011

 



20 September 2011

TERRACE HILL GROUP PLC

("Terrace Hill" or the "Company")

TERRACE HILL WINS PLANNING RECOMMENDATION FOR 30,000 SQ FT SAINSBURY'S IN WHITCHURCH

Terrace Hill Group PLC (AIM: THG), a leading UK property development and investment group, announces that it has received a minded to grant recommendation with regard to its current planning application for a Sainsbury's supermarket in Whitchurch, Shropshire. The application was unanimously supported at a planning meeting on 13 September 2011, and will now be referred to the Department of Communities and Local Government, following which the Local Authorities' recommendations should be approved within 21 days.

Construction of the new supermarket on London Road, close to Whitchurch town centre, which has been forward-sold to Sainsbury's, is expected to commence by the summer of 2012, with the store opening in 2013.  Once complete, the store will offer 30,000 sq ft of sales area and 300 parking spaces.

The planning recommendation comes shortly after two of Terrace Hill's other foodstore developments, one in Sunderland and the other in Skelton, East Cleveland, received minded to grant recommendations earlier this month.

Commenting, Duncan McEwan, Head of Retail at Terrace Hill, said:  "This planning recommendation at Whitchurch is another demonstration of our expertise in working with local governments and communities to progress sites through the planning process, and it is particularly pleasing that we received unanimous support for this scheme. The news follows closely on the heels of two other foodstore planning recommendations and we now have real momentum in this sector, which we believe will continue to show strong growth over the medium term."

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For further information, please visit www.terracehill.co.uk or contact:

Terrace Hill                                                                           Tel: [phone]
Philip Leech/Duncan McEwan

Financial Dynamics                                                               Tel: [phone]
Richard Sunderland/Will Henderson/Olivia Goodall               [e-mail]

Oriel Securities (Nominated Adviser)                               Tel: [phone]

Gareth Price

Mark Young

Notes to editors:

Terrace Hill Group

Terrace Hill Group PLC is a regionally based UK property development and investment group quoted on AIM, with two key divisions:

·     Commercial development

·     Residential investment

Formed in 1986, the Company has five offices located in London, Glasgow, Teesside, Bristol and Manchester, managing a commercial development programme and a residential investment portfolio.

 

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