Planning Consent

Hammerson PLC
09 October 2003




Hammerson Secures Planning Consent for Gloucester Retail Park



Hammerson plc has received outline planning consent for St. Oswald's Park,
Gloucester, a retail-led mixed use development on a site of 53 acres close to
the city centre. The grant of planning consent follows a public inquiry by the
Government.



The scheme will include 16,700 m(2) of retail accommodation, served by 1,000 car
park spaces, and 8,300 m(2) of leisure use. Units are currently under offer to B
&Q and Comet, representing approximately 65% of the estimated retail rental
income of the scheme. In addition there will be 9,300 m(2) of space devoted to
light industrial and distribution uses.



The scheme will incorporate approximately 450 units of residential
accommodation, including 150 affordable housing units.



It is anticipated that the first phase of the construction of this scheme, which
has been designed by Lyons Sleeman Hoare, will begin in the second half of 2004
with a construction period of approximately 12 months. Hammerson's total
development cost is estimated to be                £62 million.





John Richards, Chief Executive, Hammerson plc, commented:



'We are very pleased that the way has been paved to regenerate this important
site in Gloucester. The initial interest from retailers is very encouraging.



We will shortly be making a start on site on the major retail park at Merthyr
Tydfil, where we received planning consent in the summer, and we continue to
pursue further development opportunities within our retail park portfolio.'




For further information:

John Richards                                               Tel:  [phone]
Chief Executive


David Atkins                                                Tel:  [phone]
Director, Retail Parks

Christopher Smith                                            Tel: [phone]
Director of Corporate Affairs                            [e-mail]





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