7th Jan 2008 07:01
Grainger PLC07 January 2008 7 January 2008 Grainger plc ("Grainger") GRAINGER ACHIEVES PLANNING PERMISSION FOR MAJOR HAMPSHIRE MIXED-USE SCHEME Grainger plc, the UK's largest quoted residential property owner, is pleased toannounce that it has achieved planning permission for Newlands Common, its majorresidential led mixed-use development, located west of Waterlooville in SouthHampshire. Grainger has completed the S.106 Agreement for the scheme, which will initiallyprovide 1,550 new homes and 100,000 sqm of commercial space on the 132 ha site.40% of the new homes will be affordable, a balanced mix of shared equity andsocial rented, in line with current government guidelines. Grainger ownsadjoining land which has been identified by the Local Authorities as potentiallysuitable for an additional 1,000 future dwellings. This is a long term project that has been designed as an exemplar sustainableurban extension. Infrastructure works will commence shortly with the first landsales or housing starts due in the Autumn. Grainger will update the market withadditional details on the project phasing in due course. Rupert Dickinson, Chief Executive of Grainger, commented: "Securing full planning permission on this key scheme is a very excitingmilestone. Through working closely with the various statutory authorities,local stakeholders and our project partners, we believe that we have designed afully integrated solution that will meet the needs of the local community,whilst positioning us well to create and deliver shareholder value. For further information: Grainger plc:Rupert Dickinson Tel: +44 (0) 20 7795 4700Andrew Cunningham Tel: +44 (0) 191 261 1819 Financial Dynamics:Stephanie Highett Tel: +44 (0) 20 7831 3113Dido LaurimoreJamie Robertson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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