Land Securities Group Plc
15 July 2005
15 July 2005
LAND SECURITIES GROUP PLC ('Land Securities' / 'Group')
Eastern Quarry development approved by Dartford Borough Council
Land Securities is pleased to announce that Dartford Borough Council this week
resolved to grant planning permission for the Group's proposals to develop 6,250
homes, a range of community and employment facilities and new parks and lakes in
Eastern Quarry, Kent Thameside. This approval is subject to completion of
section 106 and withdrawal of the holding objection from the Highways Agency.
Land Securities' proposals include 30% 'affordable' homes, a range of new
schools, community facilities, local shops and offices. In addition, over a
third of the development will be dedicated to open space. New wildlife areas
including neighbourhood parks, ponds, wet and dry meadows, ecology areas,
woodland and lakes will transform the chalk quarry which has been inaccessible
to the public for many years.
The proposals have been planned to integrate the developing new community with
existing neighbouring areas. Land Securities will work with carefully selected
house building partners to deliver the new homes to the highest architectural
standards throughout all elements of the development.
The development in the quarry will be brought forward in phases over twenty
years. Initial site formation works are due to commence in April 2006 and it is
anticipated that the first homes will be available in 2008.
Francis Salway, Group Chief Executive, Land Securities said
'This is a significant step forward for our Urban Community Development team and
Kent Thameside. We are delighted that Dartford Borough Council has given the
green light for development at Eastern Quarry. By creating homes, jobs and
leisure facilities, we will be helping to develop a new community that will link
with established adjoining neighbourhoods. The Government often talks about
creating 'sustainable communities' - and this development is exactly that with
integrated transport systems, shops and local employment opportunities. And as
we deliver these new communities in Kent, we also anticipate realising value for
our shareholders over the next 20 years.
Ian Lindsay, Deputy Chief Executive of the Kent Thameside Delivery Board
commented:
'We are very pleased to see the Eastern Quarry scheme moving forward; it is
central to the sustainable regeneration of Kent Thameside. Land Securities is a
key partner in the delivery of the rapid transit scheme, Fastrack. The
development at Eastern Quarry provides the opportunity to link Bluewater,
Ebbsfleet International and Domestic station and the rest of Kent Thameside.'
- Ends -
For further information, please contact:
Emma Denne
Land Securities Group PLC
Tel: 020 7413 9000
Stephanie Highett/Dido Laurimore
Financial Dynamics
Tel: 020 7831 3113
Notes to Editors
Land Securities Group PLC
Land Securities is a FTSE 100 company, quoted on the London Stock Exchange. It
has been at the forefront of the UK's commercial property industry for over 60
years. Today, the Group maintains its market leading position as the UK's
largest quoted property company by providing commercial accommodation and
property services to a wide range of occupiers. The Group's objective is to
create attractive and sustainable returns for its shareholders through its
activities, which include property investment, development and property
outsourcing.
Land Securities holds a market leading position in three areas of the UK
commercial property market:
• Retail,
• London offices and
• Property outsourcing.
Its £9.4 billion combined investment portfolio includes over 10 million sq feet
of office and retail space in Central London and 28 shopping centres and 31
retail parks located across the UK.
It has a substantial development programme with a number of development projects
including major retail-led urban regeneration schemes and Central London
mixed-use developments. The Group is also masterplanning one of Europe's
largest regeneration schemes in Kent Thameside.
The Group leads the market in property outsourcing where, through Land
Securities Trillium, it provides accommodation and property-related services to
the Department for Work and Pensions, the BBC, Norwich Union, Barclays Bank,
DVLA and through a joint venture, Telereal, to BT.
The Group is committed to environmental initiatives and community involvement
recognised by the Group's inclusion in the BiTC Corporate Responsibility Index,
FTSE4Good Index and the Dow Jones Sustainability Index.
For more information on Land Securities visit www.landsecurities.com
This information is provided by RNS
The company news service from the London Stock Exchange
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