Re Greenwich Peninsula

Quintain Estates & Development PLC
23 December 2002

23 December 2002


                Quintain Estates & Development PLC ('Quintain')

          MERIDIAN DELTA SUBMITS GREENWICH PENINSULA PLANNING APPLICATION
                        TO LONDON BOROUGH OF GREENWICH


Quintain is pleased to announce that Meridian Delta Ltd ('MDL'), English
Partnerships ('EP') and Anschutz Entertainment Group Europe ('AEG') have today
delivered a planning application to the offices of the London Borough of
Greenwich for the comprehensive regeneration of the Greenwich Peninsula,
including the Dome.

The timing of the submission is in line with the timetable announced when
contracts were exchanged with Government in May 2002.  It is currently
anticipated that, subject to planning approval being granted, construction work
could commence in mid-2003.

A summary of the planning submission is shown below.


Commenting on the submission, Nick Shattock, Quintain's Property Director, said:

'Following a comprehensive consultation process, we are delighted to have
submitted our Masterplan for the Peninsula and the Dome on time.

'We are extremely excited to be working with our consortium partner, Lend Lease,
AEG and English Partnerships to deliver a new urban community and major
destination for London.  Based around the new arena in the Dome, which will
provide London with a new world-class sporting and leisure facility, the new
homes and employment and retail facilities will combine with important
infrastructure improvements to deliver a significant sustainable regeneration
project which will deliver major benefits to residents and visitors alike.'


For further information, please contact:

Quintain Estates & Development
Nick Shattock/Rebecca Worthington
Tel: [phone]

Financial Dynamics
Dido Laurimore
Tel: [phone]



The Planning Application

•         Meridian Delta Ltd, English Partnerships ('EP') and Anschutz
Entertainment Group Europe have today submitted a planning application to the
London Borough of Greenwich for a Masterplan covering the 190 acre Greenwich
Peninsula, including the Dome.  As a strategic development, the application will
be considered by the Mayor of London as well as the London Borough of Greenwich.



•         On planning approval being granted, construction of the first stage of
the regeneration - the Dome Arena and supporting facilities - will commence.
This also triggers the handover of the Dome from EP to MDL and AEG.



•         The planning permission will also create the framework within which
the regeneration of the Greenwich Peninsula will be taken forward, enabling MDL
to submit detailed proposals for further stages of construction over the next 20
years.





The Masterplan



•         Designed by Terry Farrell and Partners, the Masterplan provides the
potential for up to:



o        10,000 homes (see below)

o        340,000 sq m of commercial space

o        33,000 sq m of retail provision

o        a new school with additional community education facilities

o        significant public realm and areas of open space

o        a new 26,000 maximum capacity entertainment and sports Arena inside the
Dome

o        a further 62,000 sq m of entertainment and leisure space around the
Arena inside the Dome

o        a new hotel to complement the Arena and other leisure uses in the Dome.



•         Greenwich Peninsula will be an urban environment, with residential
buildings generally between 8-10 storeys high, with some higher buildings on the
riverfront of up to 19 storeys.  Commercial buildings will be between 10-15
storeys.



•         It is intended that the employment space will comprise offices,
studios and workshops.  It is likely to have a particular appeal to the
creative, media and related sectors and is not a rival to the City offices at
Canary Wharf.



•         The retail provision across the Peninsula will provide local
facilities for those who live and work on the Peninsula and for people visiting
the Arena.  It will not impact upon existing town centres in Greenwich and
elsewhere.



•         The major new hotel to the immediate North West of the Dome will
complement the activities in the Dome as well as providing major employment
opportunities.



•         The Peninsula already has a health centre and a primary school
(located at Greenwich Millennium Village) and the Masterplan includes the
provision of a further new school, which will include evening and distance
learning facilities for all age groups.



•         The Masterplan places an emphasis on the public realm, enhancing the
existing parkland and providing large amounts of new public open space with a
focus on how the buildings interact with these spaces.  There is also a complete
river walk and cycle way around the Peninsula.



•         The Arena inside the Dome will be a fully enclosed new building under
the Dome roof with a maximum capacity of 26,000 people.  Around the Arena,
inside the Dome, is a further 62,000 sq m of entertainment and leisure space.



•         The Masterplan breaks down the site into nine key areas:



o        The Arena inside the Dome and complementary leisure and catering
facilities

o        Millennium Square - the area immediately between North Greenwich
Underground station and the entrance to the Dome

o        Central Park - the main public park area around the four residential
neighbourhoods

o        Meridian Gardens - on the west side of the Peninsula, approximately
3,400 homes

o        East Riverside - to the east of Millennium Square, approximately 700
homes

o        Bugsby's Reach - to the east of Central Park, approximately 3,200 homes

o        Parkside - to the west of Central Park, approximately 2,700 homes

o        Dome Central - the main commercial district around the Underground
Station

o        Galleons Reach - the secondary commercial area to the south of
Parkside.



•         All these elements combined will create a new community of some 20,000
residents, 24,000 workers and up to 26,000 visitors during major events at the
Arena.



•         Terry Farrell and Partners has extensive experience in urban design,
urban regeneration and masterplanning, having implemented more major urban
design commissions in Europe, the USA and South East Asia than any other UK
practice.





New Housing



•         The 10,000 homes will be located around four neighbourhoods - each
with different characteristics and each with a significant proportion of
affordable homes integrated into its communities.  Some areas will be more
family oriented; others will be more suitable for young people.



•         Thousands of these homes will be affordable.  MDL is committed to
providing homes for people of varying circumstances and backgrounds as part of
creating a sustainable community and meeting the needs of Greenwich and London.



•         As customary with planning applications, the exact levels of
affordable housing and the mix of homes and tenures provided will depend upon
the outcome of continued discussions with the London Borough of Greenwich, the
Greater London Authority and English Partnerships as the planning application is
considered.



•         Importantly, all affordable housing will be developed and occupied
simultaneously with the private for-sale units during the life of the
regeneration, with a genuine integration of the different types of housing
across the Peninsula.





Transport



•         The comprehensive regeneration of the Greenwich Peninsula will deliver
significant additional local transport improvements.  There will also be many
car free streets and boulevards.



•         Bus services will be significantly augmented through the addition of
more routes and more frequent services.  In addition, the Waterfront Transit
from Greenwich to Charlton, Woolwich and Abbey Wood will serve the Peninsula and
new pedestrian routes will link to the bus and tube station (North Greenwich).



•         The impact of new traffic going to and from the Peninsula on the
existing road network has been modelled and mitigating measures will be funded
by MDL as part of the planning agreement.  This is currently being discussed
with Transport for London and the London Borough of Greenwich.



•         It is believed that MDL can deliver all the residential, leisure and
retail development and at least 100,000 sq m of commercial development with the
current transport infrastructure supported by these improvements.  With the
planned Jubilee Line upgrade - or with Crossrail in place freeing up capacity on
the Jubilee Line - MDL should also be able to complete the other 240,000 sq m of
commercial development.



•         Residents' parking for the 10,000 homes will average less then 2
spaces for every 3 homes, all of which will be off-street and away from view.
There will also be 400 parking spaces across all 340,000 sq m of commercial
space.





The Dome Arena



•         The Arena building programme is currently estimated to take 24 months
from the start of construction.  It is the sole responsibility of AEG and will
cost £135m.



•         The Dome Arena is intended to become the best concert and
entertainment venue in Europe and will be a fully enclosed stand-alone structure
under the Dome roof with maximum capacity for 26,000 people.  However, the
flexible seating of the arena will allow for events for as small a number as
7,500. Around the Arena, inside the Dome, is a further 62,000 sq m of
entertainment and leisure space which will include bars and restaurants.



•         AEG is the largest owner of sports teams in the world.  AEG's
portfolio includes seven professional sports teams across Western Europe
including the London Knights Ice Hockey team.  They also own the Los Angeles
Kings Ice Hockey team and the Los Angeles Lakers Basketball team.



•         AEG Europe intends to offer high calibre music events on a similar
scale to those that are hosted in the AEG owned Staples Centre in Los Angeles.
Recent performances have included the Rolling Stones, Paul McCartney, U2,
Madonna, Barbara Streisand and Britney Spears. Recent music events include the
Grammys and the Emmys.



•         It is intended that the multi-functional Dome Arena will host
approximately 150 events in the first year of opening, but this could rise to in
excess of 200. Such events include concerts, family shows, sports events, award
shows and conventions.



•         The Arena will include up to 100 luxury suites across two levels
providing hospitality for up to 2,000 people.  An 'Arena Restaurant' will offer
guests a 'Dine and View' option.



•         The Dome Arena will be able to transform into a fully flexible
exhibition space that will be capable of hosting large-scale conventions.



•         The construction of the Dome Arena will create over 200 jobs.
Hundreds more full and part time opportunities will also be created once the
project has been completed.



•         Award winning architects, HOK Sport+Venue+Event London were
commissioned by AEG to draw up the design plans.  HOK's design portfolio also
includes the Olympic Stadium in Sydney, Millennium Stadium in Cardiff and the
new Wembley Stadium which is currently under construction.






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