Bristol land purchase

Redrow PLC
08 May 2006



                 Redrow secures major land opportunity at Bristol


Redrow today announces that it has unconditionally secured under contract 77
acres of land from Hewlett Packard in a prime area of North Bristol.  This site
has an outline planning consent for at least 1,250 new homes and 72,000 sq ft of
commercial space around a new neighbourhood centre.


The site overlooks Bristol and benefits from excellent transport infrastructure,
offering easy access to the motorway network and being within walking distance
of rail links.


The purchase consideration of £59m in cash will be met from the Group's existing
banking facilities, with a deposit of £5.9m paid on exchange of contracts and
the remainder due in July 2006.  The expected return is in line with Redrow's
margin criteria for land acquisitions.


The site is expected to provide at least 1,250 homes over a period of up to 10
years and will further support growth in Redrow's Western Region and for the
Group as a whole.


Following the master planning process, infrastructure works are expected to
commence in 2007 with the first legal completions anticipated during 2008.


Commenting upon the purchase, Neil Fitzsimmons, Chief Executive said:


'We are delighted to have secured this significant opportunity in such a prime
market as Bristol which further demonstrates our capacity to undertake major
land transactions in line with our strategy of promoting mixed use sustainable
development.


We look forward to delivering the site into a development that will embody our
commitment to high quality urban design.'



Further information:

Redrow                                                     01244 520044
Neil Fitzsimmons, Chief Executive
David Arnold, Group Finance Director


Brunswick Group LLP                                        020 7404 5959
Patrick Handley
Nina Coad







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