Re: Planning Submission

RNS Number:5687R
Quintain Estates & Development PLC
31 October 2003



31 October 2003





       Quintain Estates and Development PLC ("Quintain" / the "Company")


                   QUINTAIN SUBMITS PLANNING APPLICATION

                             TO BRENT COUNCIL



Quintain has today submitted an outline planning application to the offices of
Brent Council comprising detailed plans for the regeneration of 42 acres at
Wembley, London.  Quintain owns 56 acres of land in Wembley surrounding, but not
including, the National Stadium.



The submission follows six months of extensive consultation with the local
community in which over 3,400 people have participated.  It also supports Brent
Council's vision for "a new, modern, urban and exciting Wembley with the
National Stadium at its centrepiece".



Designed by Richard Rogers Partnership, the planning application submitted today
proposes a spectacular setting for the National Stadium and the delivery of
thousands of new homes and jobs, with greatly improved local facilities and new
areas of open space.



A summary of the planning submission is shown below.



Launching the regeneration plans, Nick Shattock, Quintain's Property Director,
said:



"Our plans should transform the area and make Wembley the capital of North West
London. We will provide a dramatically improved experience for the millions of
visitors to the National Stadium and to our existing and future businesses on
the site, which include Wembley Arena, Europe's most successful arena.



"With Wembley and the Greenwich Peninsula, Quintain has interests in 257 acres
of 'Opportunity Areas' as identified by the Mayor of London."



                                    - Ends -





For further information, please contact:



Quintain Estates & Development

Nick Shattock/Rebecca Worthington

Tel: [phone]



Financial Dynamics

Stephanie Highett/Dido Laurimore

Tel: [phone]





The Planning Application



*         The planning application seeks to create the framework within which
the regeneration of Wembley will be taken forward - such as land use, public
realm and building heights. At this stage, it does not provide for detailed
building design.



*         Separate applications for the creation of Arena Square (see below) and
the refurbishment and modernisation of the listed Wembley Arena will be made in
due course.



*         Since June 2003, Quintain has held extensive pre-application local
community consultations, bringing the plans directly to over 3,400 people.



*         The plans constitute a ten-year regeneration programme.  The first
phase is anticipated to comprise the creation of Arena Square, the opening of
some restaurant and retail space, the refurbishment of the Arena, the
commencement of work on the hotel and delivering the parking for the National
Stadium.



*         It is anticipated that, on completion, some eight million people a
year will visit Wembley (four million to the National Stadium, two million to
Wembley Arena and two million to the new retail and leisure facilities).





The Masterplan



Designed by Richard Rogers Partnership, the Masterplan provides for around 5
million square feet of development, with 60% of the site as open space,
delivering:



*         Homes for 8,500 people and 40% affordable housing

-          3,727 homes providing a range of studios and 1, 2, 3 and 4 bedroom
apartments at first floor level and above, around a series of residential
courtyards.

-          The application includes 40% affordable housing - 38% on-site plus
the equivalent of a further 2% off-site for larger affordable homes.  The exact
tenure mix will be agreed as part of the planning process.

-          In addition, there is student accommodation for 550 students; 94 bed
spaces for nursing and close care accommodation; plus 20 bed spaces for people
with special needs.



*         Wembley Park Boulevard

-          As wide as Regent Street, with a range of restaurants, cafes, bars,
leisure facilities, shops and a hotel opening out onto tree lined pavements.

-          This will be pedestrianised and closed to through traffic, apart from
taxis, cyclists and buses - the first time public transport has penetrated the
heart of this site.



*         Arena Square

-          Comparable in size to Leicester Square with the feel of Covent Garden
and providing a spectacular setting for the refurbished Arena.



*         Stadium Piazza

-          The area immediately surrounding the new National Stadium.

-          Providing more public space with cafes, bars and community uses.



*         A new cinema and other leisure facilities

-          307,000 square feet (28,500 square metres) of leisure facilities
focused in a new building at the northern end of Wembley Park Boulevard.

-          This will provide a major new facility for Brent and London,
including a new multiplex cinema and other facilities such as ten pin bowling,
bingo and a nightclub.

-          Plans also include a skate-park or climbing wall.



*         New shops - designer stores, sports retailing and local shops

-          Designer outlets (153,000 square feet / 14,200 square metres), sports
retailing (127,000 square feet / 11,800 square metres) and stores for the local
community who live and work on the site (86,000 square feet / 8,000 square
metres).

-          It is intended that these will reflect the diversity of the local
population and encourage more shoppers to existing centres such as Wembley High
Road.



*         New restaurants, cafes and bars

-          137,000 square feet (12,700 square metres) for new restaurants, cafes
and bars.

-          These will provide a wide range of eating and drinking options to
suit different tastes and cultures.



*         New community facilities

-          88,000 square feet (8,000 square metres) of space for community
facilities.

-          These could include creches and nurseries, a multi-faith centre,
health provision and doctors' surgeries, as well as space for arts, sports and
cultural activities.



*         A new future for Wembley Arena

-          Over #20 million will be allocated to refurbish and update Wembley
Arena - Europe's most successful arena with 140 events this year - restoring its
original architecture.

-          This will include creating a spectacular new entrance for the
building onto Arena Square.



*         New offices and workspace

-          678,000 square feet (63,000 square metres) of office space.

-          These will be designed to attract a range of small and large
businesses, particularly in growing sectors such as business services and the
creative industries.



*         A new hotel

-          A flagship new 400 bedroom, international standard hotel, providing a
dramatic setting for the Stadium entrance bordering Arena Square.



*         Parking

-          Quintain is under contract to Wembley National Stadium Limited to
deliver up to 2,900 car and coach spaces for the National Stadium.

-          Residential parking will be provided at less than one space per
apartment to reflect the excellent public transport infrastructure and the low
level of expected car ownership.  Parking will be actively managed to ensure
appropriate use and minimal impacts on and off-site.  Visitor and public parking
will be charged.

-          In the longer term, parking will be away from view, making use of
good design and the various different levels on the site to 'hide' the vehicles.

-          Detailed traffic management, parking and signage strategies are also
now being developed in liaison with the owners of the new Stadium, the Police
and Brent Council.



*         7,000 new jobs

-          To create a sustainable economic heart during the day as well as in
the evening and offering long-term employment.  These are in addition to the
construction jobs created.

-          Currently the site provides the equivalent of only around 500
full-time jobs.



With two exceptions, all buildings are 8-14 storeys high.  One building is 21
storeys and one is 27 storeys.



Quintain will retain management of the entire area and actively encourage the
open spaces to be used for music, theatre, cultural, community and other public
events and festivals.







Notes to Editors:



Quintain Estates and Development is a leading property investment and
development company specialising in strategic property acquisition,
redevelopment and asset management across the UK. Its last reported net worth
was #443 million with gross assets of #760 million.  Quintain's existing urban
regeneration programme includes 257 acres of London's designated "Opportunity
Areas".  The programme includes Greenwich Peninsula, where Meridian Delta, a
joint venture between Quintain and Lend Lease, has been granted a resolution for
14 million sq ft of mixed-use development and Wembley.



In addition, Quintain has recently entered into a joint venture agreement with
Countryside Properties PLC to develop a prominent 9.4 acre brownfield site
incorporating the existing Merton Abbey Mills Market in Colliers Wood, London
SW19.




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            The company news service from the London Stock Exchange
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