Wandsworth Town Centre Regeneration
Young & Co's Brewery PLC
YOUNG & CO.'S BREWERY, P.L.C.
Wandsworth Town Centre Regeneration
The Board of Young & Co.'s Brewery ("the Company") is to enter into discussions
with Wandsworth Borough Council ("the Council") regarding a review of future
development plans for Wandsworth Town Centre, including the Ram Brewery site.
This decision has been driven by the Company's regular review of its assets and
the investment requirements of its business. The Board is also mindful of last
year's Wandsworth Local Plan Review, which raised the issue of the Ram Brewery
site being included within a zoning which would provide for alternative land
use, and the publication in July this year of the Mayor's Draft London Plan,
which identified Wandsworth Town Centre as a key area for regeneration.
As the first step in the process, the Company expects to participate in a
feasibility study with the Council on the development of a master plan for
Wandsworth town centre. This is likely to take around two years to complete.
This feasibility study would need to review the many issues which will arise
from alternative land use, such as environmental, planning, heritage and traffic
management. The study would also examine the relocation of the Ram Brewery to a
new site within Wandsworth Borough.
The Board would like to stress that this process is at a very early stage. There
will be many issues to be considered before the process reaches a conclusion
prior to tackling the complexities of seeking planning consent. There is,
consequently, no certainty that this process will lead to any decision by the
Board to redevelop the current site. Accordingly shareholders are advised that
they should not make any investment decision on the basis that there may be a
redevelopment of the brewery site.
John Young, Chairman of Young's said:
"Any proposal to redevelop Wandsworth Town Centre will have a major impact on
the local community. Young's has an important role in the community,
particularly as a local employer, and we believe that participating fully in the
review is important for both the business and the community as a whole.
"The last major redevelopment on the Ram Brewery site was back in 1984, with the
completion of a new brewhouse, which replaced some equipment that had been in
use for more than 100 years. We look regularly at ways to improve the efficiency
of our business. Given the Council's and the Mayor's comments on Wandsworth Town
Centre regeneration, the Board felt that it was sensible to examine the
feasibility and desirability of redeveloping the brewery site and relocating to
a new site in Wandsworth before we undertook any significant further
modernisation.
"We are at start of a long process and there is no certainty about the outcome
of the review, but we are keen to support the Council in plans to make
Wandsworth an even better place to live and work.
"The Board wants to make the following points:
-- No decision has been, or could yet be, taken about the Brewery - this site
includes the Company's brewery, head office, sales, administration and
distribution operations;
-- Brewing is an important part of Young's business, as is our role and
position within the local community. It is our intention that any relocation
of the Ram Brewery should be within the borough of Wandsworth;
-- We are not short-term property speculators - we are looking to deliver value
to our shareholders for years into the future."
Stephen Goodyear, Chief Executive of Young's added:
"As the process develops, there will be many people involved, much local
interest and many issues to be considered. No decision in relation to the site
has been taken and there is no certainty that relocation will be either
desirable or possible. We are making this announcement at an early stage to make
the Board's position clear and to enable a thorough and open review to be
undertaken.
"We will keep shareholders informed of any material developments, but do not
intend to comment further at this stage."
All enquiries:
James Longfield 0207 357 9477
Hogarth Partnership
NOTES FOR EDITORS
The Ram Brewery is located on 5.5 acres of land in the heart of Wandsworth town
centre in South West London. It includes brewing, packaging, warehousing and
distribution operations as well as the company's head office and support
functions. The site forms part of a larger area of land (the remainder of which
is owned by various third parties) lying to the north of Wandsworth High Street
that the review process will consider for possible regeneration.
Young's is famous for its award-winning cask-conditioned and bottled ales and
for its 206 high quality traditional pubs and inns located in and around London
and the South of England. Its core beer brand is Young's Bitter and its premium
brand is Young's Special. Other brands include Waggledance, Triple 'A', Double
Chocolate Stout, Winter Warmer and Special London Ale. These beers are available
in Young's pubs, all major supermarkets, off-licences, independent pubs and many
of the big pub chains. Young's RamRod is the official beer for the National
Trust and Lord's Bitter is brewed by Young's for the MCC. The company recently
signed a deal for Young's Bitter to be available at all central London railway
stations.
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