11th Feb 2008 09:30
St. Modwen Properties PLC11 February 2008 et0124 contract 11 February 2008 St Modwen Signs Coed Darcy Contract St Modwen Developments Ltd, the UK's leading regeneration company, has formerlysigned contracts to transform the former oil refinery at Llandarcy in SouthWales into the Coed Darcy Urban Village, the first of its kind in Wales. St Modwen was named last May by the Partners responsible for the Coed Darcyredevelopment as the preferred bidder for the whole 1062 acre (430 hectare) siteadjacent to Junction 43 of the M4 near Neath. This clears the way for thePartners (BP, the Welsh Assembly Government; Neath Port Talbot County BoroughCouncil and the Prince's Foundation for the Built Environment), to hand over thetask of delivering the Coed Darcy vision to St Modwen. An estimated 4000 homes are planned for the whole site over the anticipated 20year development period. Over half of those homes are expected to be builtduring the next ten years, meeting the needs of the Neath Port Talbot CountyBorough Council Unitary Development Plan and fulfilling the urban village designvision of The Prince's Foundation. Remediation work on Area One has progressedalongside the contract negotiations with St Modwen and the first of 195 housingunits, will commence later this year. A spokesperson for BP said the signing of the contract was a very significantmilestone. "St Modwen is a company with vast expertise in transformingbrownfield land. Its skill and clear and total commitment to this excitingproject gives the partners confidence that the vision outlined in the Masterplanof a true urban village community, will be realised." Rupert Joseland, St Modwen's South West and Wales Regional Director said CoedDarcy was one of the most extensive and significant remediation projects inEurope: " St Modwen is committed to ensuring this development becomes ablueprint for best practice and a case study of excellence. " "The signing of this agreement is excellent news for Coed Darcy and Neath PortTalbot," said Leader of Neath Port Talbot Council, Derek Vaughan. "This is a landmark project that will become a beacon of 21st centurysustainable living. It will bring huge benefit for residents and businesses inNeath Port Talbot. New high quality housing, jobs, schools and communityfacilities will transform a former brown field site into a vibrant urbanvillage." Hank Dittmar, Chief Executive of The Prince's Foundation comments: "Coed Darcyis a vitally important design exemplar for sustainable building in Wales, in theface of increasing environmental concerns. The Prince's Foundation has sought adesign that provides conditions for lasting economic, social and environmentalwell-being. For example we wanted to help people use their cars less, and didthis by providing a vibrant mix of amenities within a short walk and ensuringthat surrounding communities can be reached easily by public transport. We'vealso emphasised beautiful, high quality building which draws upon localmaterials and craftsmanship. Not only will this provide employment throughoutthe project build, but it will result in a distinctive, characterful place thatpeople will want to care for, live and work in long into the future." Leighton Andrews, Welsh Assembly Government Deputy Minister for Regeneration,described it as a huge step forward in securing delivery of the exemplar CoedDarcy urban village. "We have worked for a number of years with our partners to facilitate thisimportant and prestigious mixed use development. Coed Darcy will offer asustainable environment where communities and businesses will be able toflourish." The key emphasis of the development will be on producing both a sustainabledevelopment and a sustainable community. The Masterplan commissioned by thePartners has been the base line for the contract with St Modwen and sets out awell crafted network of inter-connected streets based on the Prince's Foundationapproach to traditional urbanism. The plan lays down a radical approach to theentire development with quality of design, materials and building techniquesbeing given top priority. The Masterplan is supported with a design code whichwill be a key tool in delivering the design detail and ensuring the characterand sense of place, so central to the vision, is achieved. The development will offer a range of residential dwellings and some units areplanned to incorporate space and facilities for workshops or small businesses.Community shopping, healthcare and schools will be catered for and the aim willbe to create a true mixed use community where the focus is on people rather thancars whilst at the same time incorporating the practical needs of transport.There will be facilities there for residents to live, play, work and go toschool in a community which echoes the human contact found in traditionalcommunities. One of the key benefits for the local community of the agreement with St Modwenwill be the commitment by the company to contribute some £100 million pounds aspart of the planning section 106 agreement towards a range of communitydevelopments. They will include three primary and one secondary school,affordable housing, playing fields, community facilities and a doctors' surgery. For further media information, please contact: Paul Shackson / Elfyn Thomas Good Relations T 02920344888 Rupert Joseland St. Modwen Developments Ltd T 01173167780 Gareth David College Hill T 02074572020 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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