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23 August 1999
Whitecliff Properties and Countryside Properties PLC have announced a joint venture to create and deliver a substantial new housing project for the fast-growing Kent Thames-side region. 450 high-quality homes are to be built on a 21-acre (8.5 hectare) site adjacent to the massively successful Bluewater. It represents a further investment into the region totalling £60 million.
The new homes will be built by Countryside's subsidiary Copthorn Homes. Preliminary work will start on site in Spring 2000 with the first homes being marketed by Summer 2000. The new homes will be within walking distance of Bluewater which provides a retail and leisure experience equivalent to Central London.
John McCready, Whitecliff's Chief Executive said: "Kent enjoys some of the finest examples of residential architecture in this country. Whitecliff wants to introduce elements of this tradition around Bluewater, which itself aspires to set high cultural and architectural standards."
"Copthorn is recognised as a first class residential developer", continued McCready, "and we were greatly impressed by Copthorn's sense of quality, innovation, vision and commitment to excellence. They understand what we want and their approach to the design of the scheme makes them the clear choice as our partner."
Graham Cherry, Chief Executive of Countryside Properties said: "Working with Whitecliff is already proving hugely stimulating. They are one of the most energetic and innovative development groups in the market today. Their aspirations for this important site were clear - to deliver a scheme that complemented the quality and innovation of neighbouring Bluewater. At the same time, it had to reflect the rich architectural vernacular that is uniquely "Kentish".
"Copthorn recognises that Kent Thames-side is the fastest growing part of the Thames Gateway, the area of London's future expansion, and has a wide range of housing requirements. The market for high quality homes to house an expanding workforce is growing as office development in Kent Thames-side is so active. Whitecliff and Copthorn will create a development of which Kent Thames-side will be proud."
ENDS contacts on page 2 For further information please contact:
John McCready, Chief Executive, Whitecliff Properties 0171 395 7601
Hugo Peel, Marketing & PR Director, Whitecliff Properties 0171 395 7609
Graham Cherry, Chief Executive, Countryside Properties PLC 01277 260000
Tony Travers, Managing Director, Copthorn Homes Ltd 01277 260000
Editor's notes:
1. Kent Thames-side is a major growth area within the UK. A Kent Thames-side association was set up in 1993 to help plan and promote the area of Dartford and Gravesham north of the A2.
2. Stone Castle will be developed in two phases. Phase 1 will cover 7 acres comprising up to 150 homes ranging from 1 bedroom apartments to 4 bedroom townhouses. As the development proceeds Copthorn will gradually draw down the land in tranches for Phase 2, consisting of 14 acres.
3. The homes will reflect local architectural styles, whilst maximising the appeal of the sites undulating topography. Materials will include slate roofs, dove cotts, oriel windows with stone rustication and yellow stock bricks. The development will also feature tree-lined avenues and walled gardens.
4. Whitecliff Properties was formed in 1997 as a partnership between Blue Circle Industries PLC and Lend Lease Corporation, an integrated property and financial services group. Its objective is to develop BCI's land surplus to corporate requirements, where development will maximise social and financial value.
5. Copthorn is the joint developer of 1,400 homes at the Greenwich Millennium Village.
6. In 1996/97 Copthorn developed and sold 405 new homes and, a year later, 424 homes. In the first half of the current financial year it completed 252 new homes (1998: 158).
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Information correct as at 23/08/1999