2nd Apr 2008 12:11
Kier Group PLC02 April 2008 2 April 2008 Kier awarded preferred bidder status on £500m property development joint venture with Network Rail Kier Group plc (Kier) announces that it has been awarded preferred bidder statusto create a property regeneration partnership (PRP) by way of a 50:50 jointventure between Kier Property Limited and Network Rail. The PRP will worktowards the sustainable regeneration of its initial portfolio of six stationsites at Enfield Town, Epsom, Guildford, Maidstone East, Twickenham andWalthamstow and a further site at Wembley Cutting which have a gross developmentvalue in excess of £500m. This innovative joint-venture will bring together Kier's development expertiseand the commercial potential of Network Rail's estate to regenerate theseimportant town-centre sites through the provision of new residential, retail andoffice accommodation along with new facilities for passengers. Kier Group plc Chief Executive John Dodds said: "We are delighted to have beenawarded preferred bidder status for the Network Rail property regenerationpartnership, which recognises the ability of the Kier Group to bring togetherexpertise from across its operations to work with clients to provide innovativesolutions." - ENDS - For further information, please contact: John Dodds, Chief ExecutiveDeena Mattar, Finance DirectorKier Group plc Tel: 01767 64011 Matthew Moth/Caroline SturdyMadano Partnership Tel: 020 7593 4000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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