28th Feb 2005 07:01
Crest Nicholson PLC28 February 2005 28 February 2005 Crest Nicholson PLC£100m regeneration project in Penarth Crest Nicholson PLC (Crest), the residential and mixed use development company,is today announcing further progress in the delivery of its urban regenerationstrategy. Crest has been selected by the Vale of Glamorgan Council as the developer,subject to contract, for the Penarth Heights project. This 16 acre site on thenorth edge of Penarth overlooks Penarth Marina, Cardiff Bay and the BristolChannel. The project is expected to consist of about 440 residential units.Provided that good progress is made in finalising the master plan, work on sitecould commence in 2006. The gross development value of the scheme isapproximately £100m. Crest was selected for its strong track record in delivering high qualitysustainable residential developments and for its master planning capabilities. John Callcutt, Chief Executive, said: "We are delighted to have been selected as the preferred developer for thislandmark site. Having been involved in the development of Penarth Marina, it isgood to be partnering with the Vale of Glamorgan Council again on the next stageof the region's development." "Having announced Crest's appointment as lead developer for the OakgroveMillennium Community in Milton Keynes in September, the partnership withGrosvenor for the redevelopment of Bath Western Riverside in October and theredevelopment of Camberley town centre in November, our selection for thePenarth Heights project demonstrates once again Crest's leading position inmajor regeneration projects." For further information please contact: John Callcutt, Chief Executive Andrew Fenwick/Kate MillerPeter Darby, Finance Director Robert GardenerCrest Nicholson Plc Brunswick Group LLPTel: 01932 847272 Tel: 020 7404 5959 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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