Urban&Civic plc Contracts exchanged on 785 acre strategic site (0449H)

TIDMUANC

RNS Number : 0449H

Urban&Civic plc

08 March 2018

8 March 2018

Urban&Civic plc

Urban&Civic exchanges contracts on 785 acre Calvert strategic site for master development

-site sits at the intersection of HS2 and proposed new Varsity line-

Urban&Civic plc (Urban&Civic) announces that it has exchanged contracts with Claydon Estate LLP on a conditional agreement in relation to 785 acres of greenfield land on the Claydon Estate near Calvert in Aylesbury Vale, Buckinghamshire, offering the potential for significant residential development in an area of nationally strategic importance.

The site adjoins the new High Speed 2 (HS2) depot where the HS2 line will meet the proposed Varsity rail line, within the Cambridge - Milton Keynes - Oxford corridor, a priority area identified by the National Infrastructure Commission (NIC) for new housing delivery. A key modification to the National Planning Policy Framework (NPPF), which was issued for consultation as part of the Prime Minister's speech on making housing fairer (announced 5 March 2018), was the attaching of materiality to endorsed NIC recommendations when preparing plans or determining applications.

This latest agreement demonstrates Urban&Civic's focus as Master Developer and trusted partner to identify strategic development opportunities in key growth locations which can leverage the impact of significant infrastructure investment.

-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&[e-mail]

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 GBP550 million (30 September 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 seven sites in or close to Cambridge, Calvert, Corby, Huntingdon, Newark, Rugby and St. Neots. These sites will deliver approximately 34,500 new homes, in excess of seven million square feet of business space and at least fourteen primary and six secondary schools over the next approximately 15 years.

In addition and together with the Wellcome Trust, Urban&Civic has recently been selected to partner with Basingstoke and Deane Borough and Hampshire County Councils as Master Developer for the 3,500 new home site at Manydown, a planned exemplar strategic extension to Basingstoke, in Hampshire.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 08, 2018 02:00 ET (07:00 GMT)