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19 July 2001
Countryside Properties PLC, the developer of sustainable mixed-use and mixed-tenure projects, announces that its subsidiary Copthorn Homes has secured three major schemes in London with a projected total completed development value of £50m.
Copthorn will be developing a 1 acre (0.4 hectare) site in Vauxhall, London SW8 for 75 mixed-tenure homes, adjacent to Vauxhall Park. Detailed planning consent has been obtained from Lambeth Borough Council. The development will include 57 apartments and town houses for sale and 18 apartments for rent. Construction is expected to start in November 2001 with completion anticipated by Spring 2003. Completed development value is projected to be £27m.
At Uxbridge Road, Ealing, London W5, Copthorn Homes is proposing, subject to planning permission, to build a mixed-use scheme on a 0.25 acre (0.1 hectare) site. The development should include 29 new and refurbished homes, of which 8 will be affordable homes for shared ownership, together with 3,000 sq.ft. of retail space. Ealing Borough Council have granted planning consent for a 24 unit scheme with an application for the 29 units awaiting committee. Construction should start in August 2001 with completion expected by August 2002. Completed development value is projected to be £9m.
Copthorn will be developing 61 new apartments as part of the comprehensive regeneration of the Edward Woods Estate in Hammersmith, London W11. Completed development value of the 0.6 acre (0.25 hectare) scheme is projected to be £14m. In addition, Countryside Properties' In Partnership division will create a further 61 new homes for rent in a £7m contract with Notting Hill Housing Trust. Detailed planning consent has been obtained for both schemes from London Borough of Hammersmith and Fulham. The development is adjacent to the forthcoming White City regional shopping centre and will include new parkland. Construction commenced earlier this month with completion anticipated by Summer 2003.
Commenting Richard Cherry, Group New Business Director, Countryside Properties, said: "Countryside Properties PLC has an excellent track record in undertaking mixed-use and mixed-tenure development and these three new schemes in Ealing, Vauxhall and Hammersmith will further enhance our considerable programme of urban regeneration in London."
For further information contact:
Countryside Properties PLC 01277 260000
Graham Cherry, Chief Executive
Richard Cherry, Group New Business Director
Square Mile BSMG Worldwide 020 7601 1000
Nick Oborne or Louise Robson
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Information correct as at 19/07/2001