9th Feb 2006 07:00
Development Securities PLC09 February 2006 9th February 2006 DEVELOPMENT SECURITIES PLC AND FOINAVON SECURE MIXED-USE DEVELOPMENT SITE ON HARTFIELD ROAD, WIMBLEDON, SW19 Development Securities PLC and Foinavon have exchanged contracts to acquire the1.25 acre car park site at Hartfield Road in Wimbledon, town centre from MertonBorough Council. Wimbledon Phoenix, a 50/50 joint venture between Development Securities andFoinavon has drawn up plans for a 159,000 sq ft mixed-use project to comprise63,000 sq ft of residential accommodation, a 30,000 sq ft hotel, and 66,000 sqft of retail space on three levels together with car parking for 220 cars. Aplanning application is due to be submitted shortly, with the development duefor completion in 2008. Julian Barwick, Joint Managing Director, Development Securities PLC said: "We are very pleased to be working in partnership with Foinavon on thismixed-use project. The mix of uses helps to diversify risk, and Foinavon'sspecialist skills, particularly in retail development, will make a valuablecontribution to our joint venture." Enquiries: Alison HowardThe Communication Group 020 7630 1411 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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