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3 October 2000
Countryside Properties PLC ("Countryside"), the South-East based residential and commercial property developer, announces that its subsidiary, Countryside Residential, is expanding further into South Wales and consequently establishing itself firmly in the region.
Following land acquisitions in Cardiff, Countryside Residential's South West division will be developing two very different brownfield sites - Hamadryad Park in Cardiff Bay and Wedal Road with a total completed development value of approximately £17 million. Land has also been acquired for two smaller schemes at Lisvane, Cardiff and Llangattock, Monmouthshire.
The development at Hamadryad Park in Cardiff Bay will comprise, subject to planning permission, 47 units in a prominent position fronting the freshwater lagoon and close to the new Cardiff Yacht Club and Marina and Rocco Forte's five star St David's Hotel. Construction on the 1.75 acre site should commence in January 2001, with completion expected in Summer 2002.
Construction works have recently commenced at Wedal Road, a 2.75 acre site in central Cardiff for 39 units. Wedal Road is a sought after location where there is strong demand for new homes. The development will be completed in Spring 2001.
Graham Cherry, Chief Executive of Countryside, commented:
"The strong progress we have made in South West confirms that we already have the expertise and presence necessary to grow significantly in this important region. These developments illustrate the continuing expansion of Countryside's operations outside the South East."
For further information, please contact:
Countryside Properties PLC
Graham Cherry, Chief Executive
01277 260000
Guy Lambert, Corporate Communications Manager
Square Mile Communications
Nick Osborne or Louise Robson
020 7601 1000
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Information correct as at 03/10/2000