29th Sep 2006 07:02
Quintain Estates & Development PLC29 September 2006 29 September 2006 QUINTAIN ESTATES AND DEVELOPMENT PLC ("Quintain") Meridian Delta Limited signs first Greenwich Peninsula residential developmentdeal Quintain Estates and Development PLC (LSE: QED) today announces that MeridianDelta Ltd ("MDL") has selected Bellway Homes, one of the UK's top fivehousebuilders, as the first residential developer to build apartments atGreenwich Peninsula, one of the largest regeneration projects in London. MDL, a joint venture between Lend Lease and Quintain, is leading the £5 billionregeneration of the Greenwich Peninsula which, on completion, will be ariverside community of 10,000 new homes, offices, shops, schools, communityfacilities and will include a new park. MDL are working in partnership withEnglish Partnerships, the Government's national regeneration agency. Bellway Homes will deliver 229 riverside apartments on the southern part of thesite. These homes represent the first residential phase in the development of 80hectares of Greenwich Peninsula over the next 15 years. Overlooking the Thames,the apartments will be adjacent to Greenwich Millennium Village and in closeproximity to the retail and community facilities already on the Peninsula. A mixof private for sale and affordable apartments is planned, including two storeyduplexes targeting families. Stock Woolstencroft and landscape architects Whitelaw + Turkington have beenappointed to work on the project. Subject to reserved matters consent, Bellwayanticipate starting on site next year with residents moving in during 2009. Speaking on behalf of MDL, Nick Shattock, Deputy Chief Executive of Quintain,said: "The first land sale is a significant stepping stone in the country's largestever planning consent. We are delighted to be working with Bellway, one of theUK's leading housebuilders, on building the first riverside apartments. Thisland sale launches the southern part of the site, with the O2 nearing completionin the north for summer 2007, along with Peninsula Square. We will now focus onaccelerating our plans for other elements of the scheme, particularly to thenorth-west, which is predominantly Quintain-owned ." Contacts: Quintain Estates and Development PLC Hilary Reid Evans Head of Corporate Communications Tel: 020 7495 8968 Financial Dynamics Stephanie Highett/Dido Laurimore Tel: 020 7831 3113 Notes to Editors: About Quintain Estates and Development PLC Quintain operates through three business segments - fund management, investmentand urban regeneration. In addition to the Greenwich Peninsula development,Quintain has a c14m sq ft land bank of projects, of which c7m sq ft areconsented. Quintain is listed on the London Stock Exchange and is a FTSE 250company. About Greenwich Peninsula Over the next 15 years, the area will be transformed into a thriving newriverside community. Planning permission was issued in early 2004 and will seethe delivery of 10,000 new homes in distinct residential neighbourhoods(including 38% affordable housing), the creation of 24,000 long-term jobopportunities within a central business district as well as shops, schools,community facilities and landscaped open spaces. Pedestrians and cyclists willhave priority over the car and a relaxing, safe environment will be promoted. The first phase of construction has begun, creating a major new public space forLondon, Peninsula Square. This will be the gateway to the new world-classentertainment in The O2 (the former Dome) and the surrounding community. Work toimprove access and capacity at North Greenwich Transport Interchange is underwayas are road junction improvements on and around the Peninsula. The O2, togetherwith the new Peninsula Square, is scheduled to open in summer 2007. The £5bn comprehensive regeneration of 80 hectares of Greenwich Peninsula isbeing led by Lend Lease and Quintain Estates and Development PLC, who togetherhave formed Meridian Delta Limited (MDL) and entered into a long term jointventure with English Partnerships, the national regeneration agency. Greenwich Peninsula - key statistics • London's single largest regeneration project at 1.4 million sq m /15 million sq ft - 10,000 new homes with 3,800 for key workers and people on low incomes - A new office district - 343,600 sq m /3.5 million sq ft of employment space - 150 new shops - 33,750 sq m/360, 000 sq ft of retail space - £100 million investment in new community facilities, including new schools, health and childcare facilities and transport improvements - 24,000 jobs created, plus an additional 5,000 jobs in construction - 2.5 km of picturesque river frontage - 19 hectares of scenic parkland and open spaces This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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