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20 October 1999
Countryside Properties PLC ("Countryside"), the residential and commercial property developer, announces that it has purchased 474 acres of land from TMC Pioneer Aggregates Limited at Beaulieu Park, Chelmsford, Essex to develop, subject to planning permission, a residential and business park for up to 3,000 new homes and between 1.5 million and 2.5 million square feet of employment space.
The purchase is being made in five tranches, between October 1999 and April 2003. The first phase of 100 acres has received planning permission and is already being developed by Countryside subsidiaries Countryside Residential and Copthorn Homes. 400 new two, three, four and five bedroom homes are being built, together with an eight acre local park with lakes, a playground and extensive landscaping. It also incorporates further public open space with views to grade one listed New Hall School and extensive new recreational facilities for the locality.
Commenting Graham Cherry, Chief Executive of Countryside, said:
"This deferred land purchase is highly important, as it will allow us to expand greatly on the highly successful Beaulieu Park. It should become the largest mixed use scheme ever undertaken by Countryside."
He added: "Our vision for Beaulieu Park is for a substantial mixed use development of outstanding quality to the North East of Chelmsford. It will be integrated with a major transport interchange including a new railway station and major road improvements. We believe this development will act as a catalyst for the Essex economy. It will offer a range of quality homes and employment space in an attractive landscaped environment with more than 270 acres of open space. In addition, recreational facilities could comprise a sporting centre of excellence including football, cricket and hockey together with other leisure activities."
ENDS
For further information please contact:
Graham Cherry, Chief Executive, Countryside Properties PLC 01277 260000
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Information correct as at 20/10/1999