Former Airport Site Update

RNS Number : 3714E

Sutton Harbour Holdings PLC

09 May 2013

 



9 May 2013

SUTTON HARBOUR HOLDINGS PLC

("the Company")

Former Airport Site Update

Sutton Harbour Holdings plc welcomes the recent decision by the Government planning inspector to reject Plymouth City Council's plans for the Derriford and Seaton area. In his preliminary findings the inspector stated that the future of the former Plymouth airport site was too significant to exclude and, therefore, has encouraged the Council to withdraw the area action plan.

In its pre-close trading update on 9^th April the Company stated:

'Regarding the 113 acre Former Airport Site (in Plymouth), the Company is progressing positively with the master planning for future uses of this land.  The northern area of Plymouth, where the Former Airport Site is situated, is currently subject to an Examination in Public of the Draft Area Action Plan by the Planning Inspectorate.  The Company has made representations as to the potential of the site to deliver a wide range of identified uses and the Planning Inspector's recommendations are anticipated being published later this year.'

Jason Schofield, Chief Executive, said: "We welcome the inspector's preliminary findings in respect of the complex issues regarding the former City airport site.  We now await the publication of his full report, which will bring further clarity with regard to future alternative uses of the site."

The planning inspector's Preliminary Report, following the Examination in Public of the Derriford and Seaton Area Action Plan can be viewed on the Plymouth City Council website.

Enquiries:

Sutton Harbour Holdings plc

Jason Schofield - Chief Executive

Natasha Gadsdon - Finance Director

01752 204186

Arden Partners plc

Richard Day

Jamie Cameron

0207 614 5917   

Newgate Threadneedle

Graham Herring

Robyn McConnachie

020 7653 9850

Note:

The Company holds a long leasehold interest in the 113 acre former airport site in the Derriford area of Plymouth. The Company previously operated Plymouth City Airport from the site until December 2011 when all operations ceased due to non-viability. 

 

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