Planning Consent

RNS Number : 5951Z

Northacre PLC

22 July 2008

 

THE WARWICK

PLANNING CONSENT

('NORTHACRE' OR 'THE COMPANY')

Northacre Plc is proud to announce that the Major Planning Development Committee of the Royal Borough of Kensington and Chelsea has again unanimously voted in favour of granting a planning consent for the company's proposed residential development of West London's telephone exchange site in Warwick Road.

Having secured planning consents on both The Lancasters and The Kensington, this consent on The Warwick will be the company's third major planning consent in just over 12 months.

The development site acquired at Warwick Road, in a joint venture with Bomac Developments UK Ltd, is to comprise 158 private and affordable apartments of approximately 225,000 square feet of saleable area.

John Hunter, Chief Executive of Northacre plc, said

'This decision on The Warwick scheme represents another major achievement of added value to the company and together with The Lancasters and The Kensington, further compliments our development programme in hand.

Northacre is now well placed to deliver three major landmark developments into the prime residential sector which, in the medium term, demonstrates a chronic shortage of supply'.

22 July 2008

All Enquiries:

Northacre Plc                020 7349 8000

John Hunter                  Chief Executive

Manish Santilale           Finance Director

KBC Peel Hunt Ltd      020 7418 8900

Capel Irwin

Nicholas Marren

 

END

 

 

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