Urban & Civic Gains Planning Permission For St Neots Project

20th Mar 2018 12:48

LONDON (Alliance News) - Property development company Urban&Civic PLC said on Tuesday that the planning application for a new residential and commercial project in St Neots, England, has been approved by the relevant committee of the Huntingdon District Council.

The project includes 2,800 new homes, two primary schools, health facilities and 63,000 square miles of employment space. In April 2017, Urban&Civic acquired 33% interest in the project for GBP13.3 million.

"The application, including almost 3,000 new homes, was determined within 20 weeks. That must be a record. In thirty years of large scale development, I have never known a new strategic application being determined so expeditiously. First plot sales will be under the now established Urban&Civic licence model and are well advanced. We are working towards initial occupations within two years of application submission. The historic average on major residential projects is almost seven years," said Chief Executive Officer Nigel Hugill.

Shares in Urban&Civic were up 0.3% at 318.00 pence on Monday.

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