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Planning Permission and Pre-Lettings at Major London Mixed-Use Scheme


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12 June 2002

The London Borough of Merton and the local community set us the challenge of creating a new urban quarter which would also help to revitalise the District. Our complementary range of skills in mixed-use development and in urban regeneration has enabled us to meet this challenge.

Graham Cherry, Chief Executive, Countryside Properties

Countryside Properties PLC, the developer of sustainable mixed-use and mixed-tenure projects, announces that it has received planning permission for a major mixed-use development in London. The Group has already secured a number of pre-lettings for the commercial elements of the scheme.

Countryside Properties has received planning permission from the London Borough of Merton and the Greater London Authority on a 10 acre (4 hectare) site at Merton Abbey Mills, London SW19. The development will include 284 apartments, a 3,900 sq m health and fitness centre which will be operated by Virgin Active, a 120 bedroom hotel for Scottish and Newcastle, 2 restaurants totalling 570 sq m, craft workshops and a heritage centre to showcase the site's history and archaeology. Control of the site was secured by part purchase and part option in April 2000.

Highway, environmental and amenity improvements will be made by the Group, including a new bridge over the River Wandle. Countryside Properties expect to commence construction in Autumn 2002 with an anticipated completion date of Summer 2005. Completed development value is expected to exceed £80m.

Graham Cherry, Chief Executive, Countryside Properties, commented:
"We are delighted that this major mixed-use development has received planning permission and that we have secured pre-lets on the main commercial elements of the scheme."

"The London Borough of Merton and the local community set us the challenge of creating a new urban quarter which would also help to revitalise the District. Our complementary range of skills in mixed-use development and in urban regeneration has enabled us to meet this challenge. Merton Abbey Mills will further enhance our substantial portfolio of such mixed-use projects and be seen as an additional strong reference for Countryside Properties' unique and valuable development skills."



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Information correct as at 12/06/2002