Planning Application Approved

Pathfinder Properties PLC
8 June 2001

 

PATHFINDER PROPERTIES PLC ('PROPERTIES' OR 'THE COMPANY') PROPOSED DEVELOPMENT
AT RIVER QUAY, CASTLEFIELD, MANCHESTER

The Company is pleased to announce that Manchester City Council has given
committee approval to the planning application for the first phase of
Properties' River Quay development. This development, which is 50% owned, but
65% controlled following its takeover of Pathfinder Recovery 1, by Properties,
comprises a new build mixed-use development scheme on a 3.28 acre site in the
Knott Mill area of Manchester. The phase 1 consent is for 201 residential units
with 141,691 sq ft of internal space, 17,239 sq ft of commercial units
comprising a health club and restaurant and 152 car parking spaces.

Enquiries:

Malcolm Bacchus, Pathfinder Properties PLC 020 7736 9669 

Robert Lo, Nabarro Wells & Co. Limited 020 7710 7400

The directors of Properties accept responsibility for the information contained
in this announcement. To the best of the knowledge and belief of such directors
(who have taken all reasonable care to ensure that such is the case) the
information contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such information.

Nabarro Wells & Co. Limited has approved the contents of this announcement for
the purposes of Section 57 of the Financial Services Act 1986.