1st Feb 2007 07:01
Development Securities PLC01 February 2007 DEVELOPMENT SECURITIES PLC PARTNERS WITH CENTROS MILLER ON CRAWLEY SCHEME Development Securities PLC today announces that it has entered into a jointventure agreement with urban regeneration specialist Centros Miller to redevelopa key site in Crawley, West Sussex, for a residential-led, mixed-use scheme. The joint venture plans a 200,000 sq ft (18,580 sq m) residential and retailscheme on a 2.2-acre (0.9-hectare) site known as the Southern Gateway. Retailunits would be provided on the ground floor below six floors of apartments. A planning application will be submitted to Crawley Borough Council in February,following extensive pre-application consultation. Consequently, consent isexpected by the summer. The site, bounded by Telford Place and Southgate Avenue on the southern edge ofCrawley town centre, is adjacent to land earmarked for a new library and officesby West Sussex County Council, and is close to the County Mall shopping centre. Matthew Weiner, a Director of Development Securities, comments: "This opportunity initially involves a site assembly exercise, working with therelevant statutory authorities and securing planning consent. These are all keyskills in the urban regeneration process and, working in conjunction withCentros Miller, we believe the joint venture has all the requirements to procurethese types of project. We look forward to working with Centros Miller on thisand future opportunities." John Marsh, Development Director of Centros Miller, adds: "This is a strategic site in Crawley town centre in need of regeneration. Wewelcome the opportunity of teaming up with Development Securities on another keyproject, following our joint venture with them in Wells, Somerset." For further information, please contact: Richard Evans, The Communication Group plc 020 7630 1411Matthew Weiner, Development Securities PLC 020 7802 9931 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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