31st May 2006 09:46
Crest Nicholson PLC31 May 2006 New England Quarter, Brighton Crest Nicholson Plc (the "Group") is pleased to announce that the Group hasformed a joint venture ("JV") with BioRegional Quintain Limited ("BQL"), itselfa joint venture between leading environmental specialist BioRegional PropertiesLimited, and Quintain Estates and Development PLC, to jointly promote anddevelop a planned development of up to 51 affordable and 121 open market unitsin the New England Quarter, Brighton. The development will be one of the mostenvironmentally sustainable projects of its kind in the UK and will be designedto achieve an Ecohomes rating of "Excellent". Crest Nicholson (South East) Limited ("CNSEL"), a wholly owned subsidiary of theGroup, has entered into a contract to establish Crest Nicholson BioRegionalQuintain LLP ("Crest BioRegional"). Under the agreement Crest BioRegional willtake an assignment from CNSEL of the contract to acquire the site in the NewEngland Quarter and the JV partners will work together to secure planningpermission before jointly developing the scheme. Enquiries: Crest Nicholson Plc Stephen Stone, Chief Executive Officer Tel: 01932 847272 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Crest NicholsonQuadrise