The Kensington

RNS Number : 6355I

Northacre PLC

20 November 2008

 

NORTHACRE PLC (the 'Company')

20th November 2008

Announcement

Northacre announces today that the Royal Borough of Kensington & Chelsea has formally granted Planning and Conservation Area Consent for the re-development of The Kensington Odeon.

This prime development will comprise gated access to 100,000 sq ft. of 35 residential apartments and 5 houses together with secure underground car parking. In addition, there will be separate access a new 1000 seat, six-screen underground 'state of the art' cinema. 

The planning permission includes a Section 106 legal agreement of which one of the commitments requires that the developer provide 30 affordable housing units elsewhere within a specified geographical zone in The Royal Borough.

John Hunter, Chief Executive of Northacre PLC commented:

'At last we have a planning consent secured for a Northacre style Revival scheme on this landmark site. Once completed, the development will greatly enhance the appearance of the local area by providing a mix of prime residential apartments and houses as well as an all new 'state of the art' cinema for the community at large.'

All enquiries:

Northacre Plc

John Hunter - Chief Executive 

Manish Santilale - Finance Director

Tel: [phone]

KBC Peel Hunt Ltd        

Capel Irwin

Nicholas Marren

Tel: [phone]

 

END

 

 

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