Urban&Civic plc Urban&Civic selected for Manydown urban extension (1586G)
28 February 2018 - 6:01PM
UK Regulatory
TIDMUANC
RNS Number : 1586G
Urban&Civic plc
28 February 2018
28 February 2018
Urban&Civic plc
Urban&Civic, in partnership with the Wellcome Trust,
selected as Master Developer for the Manydown strategic extension
of Basingstoke
Urban&Civic plc ('Urban&Civic'), working with the
Wellcome Trust ('Wellcome'), has been selected to partner with
Basingstoke and Deane Borough and Hampshire County Councils
(together 'the Councils') to deliver 3,500 new homes at Manydown, a
planned exemplar strategic extension to Basingstoke, in Hampshire.
The decision followed a comprehensive procurement process by the
Councils, as joint leasehold owners of 794 acres to the immediate
west of Basingstoke. The formal stages of selection commenced in
July 2016; since when bidders put forward detailed proposals
through four successive stages of procurement.
The land is allocated for residential development. Following
extensive public involvement in drawing up a comprehensive
masterplan, an outline planning application was submitted by the
Councils in March 2017. In addition to the new homes, the
application envisages local businesses, retail and community
facilities, two new primary schools, land for a secondary school
and a 250 acre new country park. The expectation is that
Urban&Civic, with Wellcome, will commit to drawdown the land,
in partnership with the Councils, conditional upon outline planning
being obtained.
Basingstoke benefits from some of the best transport connections
south west of London and the potential exists for an enlarged
Manydown development to become one of the most important projects
across the entire region. An additional 1,230 acres is also under
the leasehold development ownership of the Councils and has been
submitted under a 'call for sites' for consideration under the
revised Strategic Housing and Economic Land Availability
Assessment. That submission envisages up to a further 7,000 new
homes on land, which currently remains outside the scope of the
existing agreement.
Cabinet member for Manydown at Basingstoke and Deane Borough
Council Cllr John Izett said:
"I am delighted to welcome Urban&Civic working with the
Wellcome Trust as our selected partner after a rigorous, demanding
competitive tender. They share our ambitions for Manydown and I am
confident they will contribute hugely to meeting the challenges
ahead to enable an outstanding realisation of Manydown, which is so
important to the borough and our residents. Urban&Civic's
record of working with and listening to local communities and
bringing forward early delivery of infrastructure and amenities is
especially commendable. We look forward to building a strong and
productive relationship with our new partner. The two councils will
remain actively involved, working with Urban&Civic and the
Wellcome Trust in years to come."
Leader of Hampshire County Council Cllr Roy Perry added:
"This announcement marks the next exciting step in the Manydown
project. Urban&Civic's wealth of expertise and experience will
ensure that our vision for creating a development at Manydown with
robust infrastructure, including high quality schools, housing and
amenities, is the best it can be. Manydown will be a flourishing
community, in which people can step onto the housing ladder, grow
their families and thrive in all aspects of their lives."
Chief Executive of Urban&Civic plc Nigel Hugill said:
"Manydown will reinforce Basingstoke by building on existing
strengths. Our selection against really tough competition
demonstrates the increasing scalability of the Master Developer
approach in meeting housing numbers on strategic projects across
South East England. Wellcome is a wonderful addition to our list of
allies."
Peter Pereira Gray, Managing Partner and Chief Executive Officer
of the Investment Division at the Wellcome Trust, said:
"We are delighted to partner with Urban& Civic and the
councils to deliver the highest quality development on this
Manydown site. It is an exciting opportunity which is consistent
with our long-term investment horizon, our philosophy of partnering
with best-in-class operators, and the scale of other assets in our
portfolio."
-ENDS-
For further information, please contact:
Urban&Civic plc 020 7509 5555
Nigel Hugill /David Wood
FTI Consulting
020 3727 1000
Giles Barrie /Ellie Sweeney /Dido Laurimore
urban&civic@fticonsulting.com
Notes:
About Urban&Civic plc
Urban&Civic plc is an established UK property development
and investment company listed on the London Stock Exchange's main
market (UANC), with total assets valued at over GBP460 million (31
March 2017). Headquartered in London and with a network of regional
offices, Urban&Civic's team is led by Nigel Hugill, CEO, and
Robin Butler, Managing Director. The Company has significant
in-house expertise across site assembly, planning, project
management, delivery, community engagement and sales.
Strategic land constitutes the core of Urban&Civic's
business model where, as Master Developer, it owns or has the
stewardship of over 5,500 acres across six sites in or close to
Cambridge, Corby, Huntingdon, Newark, Rugby and St. Neots. These
sites will deliver approximately 30,000 new homes, over six million
square feet of business space and at least thirteen primary and
four secondary schools over the next approximately 15 years.
This information is provided by RNS
The company news service from the London Stock Exchange
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