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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Reo Sec. Zdp | LSE:REOP | London | Ordinary Share | JE00B1WT2X82 | ZERO DIV PRF 0.001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
TIDMREOP RNS Number : 0814W REO Securities Limited 12 November 2010 12 November 2010 Wandsworth Council Approves Battersea Power Station Planning Application Major step in regeneration of the largest undeveloped site in Central London Real Estate Opportunities plc (REO) is delighted to welcome Wandsworth Council's approval of the planning application for the Battersea Power Station site. The next stage of the process will see the application referred to the Mayor of London and the Secretary of State for Communities and Local Government for their consideration. Wandsworth Council's approval of the planning application, the largest ever in Central London, is a major step towards realising the vision for Battersea Power Station, and follows one of the most comprehensive consultation programmes for a property development ever undertaken in the UK, consisting of over 300 meetings with local groups and stakeholders, 3 public exhibitions and over 16,000 visitors to Battersea Power Station. The scheme has received strong support from a range of stakeholders including the Greater London Authority, English Heritage, the Commission for Architecture and the Built Environment (CABE), and most importantly, the local residents and general public. Rafael Viñoly's masterplan will create a 10.1m sq ft mixed-use sustainable development with over 3,400 new homes and 1.7m sq ft of office space alongside 1.5m sq ft of other commercial uses including community, hotels, cultural, leisure, conference centre, shops and restaurants. At the heart will be the Power Station, restored to its former glory, standing as a commanding reminder of London's industrial past and thrilling future. The development will also include a new tube station on the proposed extension of the Northern Line from Kennington to Nine Elms and Battersea Power Station. This will be the first ever privately funded extension to the tube network in Central London. The scheme is expected to generate approximately 15,000 new jobs and training opportunities, and will create a vibrant and inviting new community, serving as a catalyst for the regeneration of the Nine Elms Opportunity Area - the largest project in Central London. REO is confident in its ability to finance the project and has already attracted significant interest from a range of prospective investors. It has always been REO's strategy to partner with a new investor, and it hopes to announce significant progress in this regard early in the new year. Construction on Phase 1 of the development is scheduled to commence in early 2012 with completion in 2016. The remaining phases, including the new underground station will follow, with the entire development scheduled for completion in 2024. Rob Tincknell, Director of REO, said: "This decision is a fantastic milestone toward our goal of creating a new exciting place for London and saving one of the City's great landmarks. Following the Council's approval, the decision and application now goes to the Mayor of London and the Secretary of State for Communities and Local Government for their consideration. We are grateful for the support we have received thus far, and look forward to working with all the stakeholders to establish a long term economic, social and environmentally sustainable heart to Nine Elms." Cllr Nick Cuff, Chairman of Wandsworth Council's Planning Application committee, said: "This scheme would restore one of London's most iconic buildings and create thousands of new jobs and homes. The two Northern Line stations will spur on the regeneration of Nine Elms and bring a huge economic windfall to this part of south London. There is still a great deal of work to be done but this is an important step forward and will give the area's other major investors the confidence to press ahead with their plans." Since purchasing the site, REO has actively engaged with the local community, in particular the Battersea Power Station Community Forum. The Forum was established in 2003 to play an active role in the design and development of the Power Station site and is made up of a wide range of local community groups, societies and residents. Harry Cowd, Chairman of the Battersea Power Station Community Forum, commented "For many years the Battersea Power Station Community Forum has worked with the owners of the Power Station on plans to bring about the restoration of this much loved building and the regeneration of the surrounding site. I am very pleased with Wandsworth Council's decision to approve the planning application, and I firmly believe that this is a major step towards finally saving the Power Station for public use and providing substantial community benefits. I am grateful to REO and Treasury Holdings for their ongoing engagement with the local community and I look forward to working with them closely to bring forth a scheme which will benefit local residents and businesses, and will breathe new life into the Nine Elms area." Ends Images of the Battersea Power Station development can be found at: ftp://Press:Images@treasuryholdingsuk.com For More Information please contact: Gordon Simpson - Finsbury 020 7251 3801 / 07778 739237 Rob Tincknell - Real Estate Opportunities 020 7501 0710 This information is provided by RNS The company news service from the London Stock Exchange END MSCGLBDBBUBBGGD
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