15th Jul 2005 09:00
Land Securities Group Plc15 July 2005 15 July 2005 LAND SECURITIES GROUP PLC ("Land Securities" / "Group") Eastern Quarry development approved by Dartford Borough Council Land Securities is pleased to announce that Dartford Borough Council this weekresolved to grant planning permission for the Group's proposals to develop 6,250homes, a range of community and employment facilities and new parks and lakes inEastern Quarry, Kent Thameside. This approval is subject to completion ofsection 106 and withdrawal of the holding objection from the Highways Agency. Land Securities' proposals include 30% 'affordable' homes, a range of newschools, community facilities, local shops and offices. In addition, over athird of the development will be dedicated to open space. New wildlife areasincluding neighbourhood parks, ponds, wet and dry meadows, ecology areas,woodland and lakes will transform the chalk quarry which has been inaccessibleto the public for many years. The proposals have been planned to integrate the developing new community withexisting neighbouring areas. Land Securities will work with carefully selectedhouse building partners to deliver the new homes to the highest architecturalstandards throughout all elements of the development. The development in the quarry will be brought forward in phases over twentyyears. Initial site formation works are due to commence in April 2006 and it isanticipated that the first homes will be available in 2008. Francis Salway, Group Chief Executive, Land Securities said "This is a significant step forward for our Urban Community Development team andKent Thameside. We are delighted that Dartford Borough Council has given thegreen light for development at Eastern Quarry. By creating homes, jobs andleisure facilities, we will be helping to develop a new community that will linkwith established adjoining neighbourhoods. The Government often talks aboutcreating 'sustainable communities' - and this development is exactly that withintegrated transport systems, shops and local employment opportunities. And aswe deliver these new communities in Kent, we also anticipate realising value forour shareholders over the next 20 years. Ian Lindsay, Deputy Chief Executive of the Kent Thameside Delivery Boardcommented: "We are very pleased to see the Eastern Quarry scheme moving forward; it iscentral to the sustainable regeneration of Kent Thameside. Land Securities is akey partner in the delivery of the rapid transit scheme, Fastrack. Thedevelopment at Eastern Quarry provides the opportunity to link Bluewater,Ebbsfleet International and Domestic station and the rest of Kent Thameside." - Ends - For further information, please contact: Emma Denne Land Securities Group PLC Tel: 020 7413 9000 Stephanie Highett/Dido Laurimore Financial Dynamics Tel: 020 7831 3113 Notes to Editors Land Securities Group PLC Land Securities is a FTSE 100 company, quoted on the London Stock Exchange. Ithas been at the forefront of the UK's commercial property industry for over 60years. Today, the Group maintains its market leading position as the UK'slargest quoted property company by providing commercial accommodation andproperty services to a wide range of occupiers. The Group's objective is tocreate attractive and sustainable returns for its shareholders through itsactivities, which include property investment, development and propertyoutsourcing. Land Securities holds a market leading position in three areas of the UKcommercial property market: • Retail, • London offices and • Property outsourcing. Its £9.4 billion combined investment portfolio includes over 10 million sq feetof office and retail space in Central London and 28 shopping centres and 31retail parks located across the UK. It has a substantial development programme with a number of development projectsincluding major retail-led urban regeneration schemes and Central Londonmixed-use developments. The Group is also masterplanning one of Europe'slargest regeneration schemes in Kent Thameside. The Group leads the market in property outsourcing where, through LandSecurities Trillium, it provides accommodation and property-related services tothe Department for Work and Pensions, the BBC, Norwich Union, Barclays Bank,DVLA and through a joint venture, Telereal, to BT. The Group is committed to environmental initiatives and community involvementrecognised by the Group's inclusion in the BiTC Corporate Responsibility Index,FTSE4Good Index and the Dow Jones Sustainability Index. For more information on Land Securities visit www.landsecurities.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Land Securities