Urban&Civic plc Progress at Rugby and sale of Herne Bay Superstore (0745M)
10 October 2016 - 5:00PM
UK Regulatory
TIDMUANC
RNS Number : 0745M
Urban&Civic plc
10 October 2016
10 October 2016
Urban&Civic plc
("Urban&Civic" or "the Company")
URBAN&CIVIC SIGNS CREST NICHOLSON AS THIRD HOUSEBUILDER AT
RUGBY
ANNOUNCES SALE OF HERNE BAY SUPERSTORE, LET TO SAINSBURY'S
Urban&Civic plc announces that contracts have been entered
into with Crest Nicholson Holdings plc on a third parcel of
infrastructure land at RadioStation Rugby, Warwickshire, owned
jointly with Aviva Investors, following agreements with Davidsons
Homes and Morris Homes earlier this year. The 12.5 acre land parcel
has consent for up to 205 residential plots and will be developed
under licence.
Urban&Civic and Aviva Investors have now contracted on 625
plots across 45 developable acres at Rugby. Crest Nicholson are
expected to commence construction in early summer 2017.
The Company also announces the exchange of an unconditional
contract with Invesco for the disposal of its foodstore on the
outskirts of Herne Bay, Kent, which has been let but not yet
occupied by Sainsbury's. The sales price represents a GBP3.3
million premium to EPRA value.
The Company is announcing Full Year results on 2 December
2016.
Ends
For further information, please contact:
FTI Consulting
Giles Barrie 020 3727 1000
Ellie Sweeney urban&civic@fticonsulting.com
Dido Laurimore
About Urban&Civic plc
Urban&Civic plc is a property development and investment
company listed on the London Stock Exchange's main market (UANC).
The Group was formed through the reverse takeover of AIM--listed
commercial property developer Terrace Hill by unlisted strategic
residential land company Urban&Civic in May 2014. The takeover
was undertaken in parallel with a capital raise of GBP170m,
creating a management team and board with an outstanding track
record and the ambition to grow a new "Best in Class" UK real
estate business.
Urban&Civic is led by Nigel Hugill and Robin Butler, who
co--founded the business in 2009 having previously led major London
regeneration projects such as the White City shopping centre,
Stratford City, Paddington Basin and Elephant and Castle.
Urban&Civic has a dual focus of large scale strategic sites
and bespoke commercial projects.
Commercial development and investment assets are focused on
bespoke, predominantly mixed use schemes in dynamic cities and
towns as well as key growth locations. These include the current
hotel development directly connected to Stansted airport and the
proposed redevelopment of Princess Street, Manchester and the
Renaissance Hotel at Deansgate, Manchester.
From a strategic land perspective, Urban&Civic is taking
forward over 3,000 acres of land across four sites located close to
Cambridge, Huntingdon, Newark and Rugby delivering more than 20,000
new homes.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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