3rd Jul 2007 07:02
Grainger PLC03 July 2007 3 July 2007 Grainger plc ("Grainger") GRAINGER SECURES PLANNING CONSENT FOR MAJOR HAMPSHIRE MIXED-USE SCHEME Grainger plc, the UK's largest quoted residential property owner, is pleased toannounce today that it has obtained outline planning consent for a majormixed-use development to be known as Newlands Common, which will create a highquality and sustainable extension to the west of Waterlooville in Hampshire. The outline planning consent provides for the development of 100,000 sq m (1 msquare feet) of commercial space and 1,550 new homes on the 132 ha development.40% of the new homes will be affordable. There is also provision for a further1,000 residential units to be added to the urban extension in the future. Following approval of the outline scheme, Grainger is set to commence thedetailed design of the first phases, and aims to submit a detailed planningapplication together with a design guide later this year. It is anticipatedthat Grainger's investment, including the original acquisition of the land,infrastructure costs and s106 requirements will be up to £100 million. The development incorporates sustainability at its core and will provide theopportunity for a new life-style for occupants. It is the first UK scheme tohave a major SUDS (Sustainable Urban Drainage Scheme), to use shared spaces(giving pedestrians priority over cars) and to ensure the retention andenhancement of the land's existing hedgerows, woodland and conservation meadows.The River Wallington is also being de-canalised and naturalized; a scheme theEnvironment Agency and Portsmouth University are championing as exemplar. Grainger will create a new management company for the development, which willprovide a full range of community and maintenance services for residents. Rupert Dickinson, Chief Executive of Grainger, commented: "Grainger is delighted to have obtained this important consent and are excitedto be spearheading such a significant project. Newlands is set to become anexemplar of a truly sustainable, fully integrated and forward thinking newcommunity." For further information: Grainger plc:Rupert Dickinson Tel: +44 (0) 20 7795 4700Andrew Cunningham Tel: +44 (0) 191 261 1819 Financial Dynamics:Stephanie Highett / Dido Laurimore Tel: +44 (0) 20 7831 3113 Notes to Editors: Grainger, the UK's largest quoted residential property investor, acquired 599acres of land near West Waterlooville, Hampshire, from a private individual inMay 2005. The land, which was acquired for £20m, is included in the West of WaterloovilleMajor Development Area and the newly consented scheme will include: • 1550 residential dwellings (40% of which are affordable)• 85 live/work units• 12.5 hectares of employment land (B1, B2 & B8)• Mixed use land - 7.19 hectares of commercial (B1, B2 and B8)• A three form entry primary school• A local Centre, including shop/s, community centre, pub and retirement• village• Land for allotments• Land for a cemetery• An area of Common parkland• Recreation and play areas• Three vehicular access points to the Town Centre or Waterlooville• Pedestrian and cycle crossing points. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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