Telford Homes PLC Preferred partner for 236 homes in South Kilburn (1813E)

TIDMTEF

RNS Number : 1813E

Telford Homes PLC

04 May 2017

 
   4 May 2017 
 

Telford Homes Plc

('Telford Homes' or the 'Group')

Selected as preferred partner for 236 new homes in South Kilburn, NW6

Telford Homes Plc (AIM: TEF), the residential property developer focused on non-prime London, is pleased to announce that it has been selected by the London Borough of Brent as their preferred partner to redevelop Gloucester House and Durham Court, a significant residential development site situated between Cambridge Road and Kilburn Park Road in South Kilburn, NW6.

The 3.2 acre site, which is located 100 metres from Kilburn Park underground station, has detailed planning permission and represents the second phase out of a four-phase masterplan for the regeneration of South Kilburn. The development will deliver 124 new open market homes, 102 affordable social rent homes and 10 shared equity homes in buildings ranging from four to eight storeys high.

The consented scheme has been designed by Fielden Clegg Bradley Studios working with Alison Brooks Architects, Gort Scott Architects and Grant Associates and has recently been shortlisted for a Housing Design Award 2017. The gross development value of the scheme is expected to be circa GBP95 million and the Group intends to commence work on site later in 2017 with completion anticipated in 2021.

The Group will make a further announcement upon entering into formal legal documentation with the London Borough of Brent.

Jon Di-Stefano, Chief Executive of Telford Homes, commented: "We are delighted to have been selected as the preferred partner of the London Borough of Brent for the redevelopment of Gloucester House and Durham Court. South Kilburn is undergoing major regeneration and our involvement represents the start of an exciting new relationship with Brent and our first development in the Borough. We look forward to exchanging contracts in the near future and commencing work on site later this year."

- Ends -

For further information:

 
 Telford Homes Plc 
 Jon Di-Stefano, Chief Executive 
 Katie Rogers, Financial                    Tel: [phone] 
  Director                                            809 800 
 Guy Lambert, Head of Corporate    www.telfordhomes-ir.london 
  Communications 
 
   Shore Capital (Nomad and 
   Joint Broker) 
 Dru Danford / Patrick Castle                   Tel: +44 (0) 20 
                                                      7408 4090 
 
   Peel Hunt LLP (Joint Broker) 
 Charles Batten / Capel Irwin                   Tel: +44 (0) 20 
                                                      7418 8900 
 
   Media enquiries: 
   Buchanan (PR Adviser) 
 Henry Harrison-Topham /                      Tel: +44 (0) 20 
  Victoria Hayns                                    7466 5000 
 [e-mail]             www.buchanan.uk.com 
 

Notes to Editors:

South Kilburn Regeneration

The South Kilburn Regeneration is a 15 year programme to provide 2,400 new homes, improved open space, a new primary school, health facilities, retail and improved environmental standards including a site wide energy solution. The vision of the London Borough of Brent is 'to transform the area into a sustainable and mixed neighbourhood and create a real sense of place and belonging.'

This information is provided by RNS

The company news service from the London Stock Exchange

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May 04, 2017 05:15 ET (09:15 GMT)