Grainger plc
(“Grainger” or the “Company”)
GRAINGER RECEIVES PLANNING CONSENT FOR 3,850 HOMES IN ALDERSHOT
Grainger plc, the UK’s largest listed residential property owner and manager, announces that planning consent has been approved subject to completion of the S106 by Rushmoor Borough Council for the development of the Aldershot Urban Extension ("AUE"), known as Wellesley, on the 255 hectare former Aldershot Garrison site.
Delivery of the development will be spread over a 20 year period and will create up to 3,850 new homes, 35% of which will be for social rent or shared ownership. The planning consent also allows for the following:
- a new slip road onto the A331 and associated highway improvements;
- two new primary schools, delivering 1050 new school places;
- extensions to two secondary schools, providing over 675 new school places;
- two new pre-schools and day care centres;
- 110 hectares of new managed green space, play areas, sports and community facilities;
- the refurbishment of six listed buildings, including the Cambridge Military Hospital and Headquarters 4th Division and provision of a Heritage Trail.
John Beresford, Development Director at Grainger, commented, "It is great news that Rushmoor Borough Council has granted consent for the Wellesley planning application. We have worked closely with the community, the Council, the MoD, HCA and other stakeholders over the past few years, and believe our proposal will bring long-term economic benefits to the wider Aldershot community, whilst also providing much-needed, good quality, new homes, schools and fantastic green open spaces and amenities. We look forward to bringing this superb scheme forward and seeing our vision come to life."
The development is due to start in 2014, with the first phase comprising 228 homes.
-ENDS-
Issued on behalf of Grainger plc, for more information, please contact: Lizzie Lambert at TwoBlue Communications
on 0207 738 1673 or [email protected]
NOTES TO EDITORS
Established in Newcastle upon Tyne in 1912, Grainger is the UK’s largest listed residential property owner, manager and developer, and has a substantial residential property business in Germany. Grainger directly owns approximately £2bn of residential property assets and has a further c.£900m residential property assets under management. Grainger owns or manages approximately 35,000 homes in the UK and Germany. Grainger’s business, focused solely in the residential property sector, includes trading investment, property management, fund and asset management, development and refurbishment. Grainger plc is widely considered as being at the forefront of discussions and action around the private rented sector. Grainger is a constituent of the FTSE 250 index on the London Stock Exchange and the FTSE4Good index. Grainger has recently won Best Property Company – Residential at the Estates Gazette Awards and Asset Manager of the Year at the RESI Awards in 2012 and 2013.