Resolution to Grant planning secured at Abbey Wood

Development Securities secures Resolution to Grant planning at its £85 million regeneration scheme, Cross Quarter, Abbey Wood

Development Securities, in joint venture with Berkshire Investment Capital, today announces that it has secured Resolution to Grant planning for the development of Cross Quarter, a 10 acre, £85 million mixed-use regeneration scheme in Abbey Wood, South East London.

The consented scheme will comprise 220 private and affordable homes, an 80-bed hotel, 5,000 sq. ft. of commercial space, community facilities and an 81,000 sq. ft. anchor foodstore which was pre-let to Sainsbury's in July 2012. Cross Quarter is located at the gateway to Abbey Wood and adjacent to its main train station which is the new South East terminus for Crossrail, due to be fully operational in 2018.

The site was acquired in May 2011 when Development Securities purchased 3.67 acres of vacant industrial land from LPA receivers acting on behalf of Lloyds Banking Group.

Simultaneously, a joint venture agreement was reached with Gallions Housing, the adjoining land owner, to create a larger 10 acres of land for redevelopment.

For more information, please contact:

Matthew Weiner/Lucy Grimble Development Securities

020 7828 4777