Planning Consent Secured for Harrow Development

17 May 2012

REDEFINE INTERNATIONAL P.L.C.

('Redefine International' or the 'Company')

REDEFINE INTERNATIONAL SECURES PLANNING CONSENT FOR HARROW RESIDENTIAL DEVELOPMENT

Redefine International, the diversified income focused property company, announces that it has achieved full planning consent for a new residential led, mixed use, development scheme on the currently vacant Lyon House and Equitable House sites in the heart of Harrow town centre. Lyon House was a former government-let property and was occupied by HMRC until June 2010. Planning permission was granted last night, subject to Greater London Authority (GLA) approval, at Harrow Borough Council's planning committee meeting.

The development, between St John's and Lyon Roads, will provide a total of 287 residential units, of which 49 will be affordable. The scheme will offer a range of accommodation including maisonettes and apartments across seven separate blocks of varying heights. The Company has already concluded a development agreement with Metropolitan Housing Trust for the affordable element of the scheme, which is conditional on receipt of full planning consent. 

In addition to the housing provision, the scheme will offer approximately 33,000 sq ft of modern, flexible commercial space, as well as significant publically accessible open green space close to the town centre. It also creates an opportunity to provide a new public realm defining a new destination for social and leisure activities.

Redefine International is already a significant investor in Harrow through its ownership of the St George's Shopping Centre.

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