In the money17 Jan 2019 10:44
ROYAL MAIL PLC
EXCHANGE OF CONTRACTS WITH GALLIARD HOMES FOR SALE OF 0.9 ACRE PLOT ON
NINE ELMS PARK SITE
Royal Mail plc (RMG.L) announces that contracts have been exchanged unconditionally for the sale of a 0.9 acre
plot (Plot C) on its Nine Elms Park site to Galliard Homes for £22.2 million in cash.
Galliard Homes intends to develop 262 residential units on Plot C, of which 25 per cent will be affordable housing.
The new residential development will be delivered by Galliard Homes in partnership with O'Shea.
Royal Mail's former South London mail centre site in Vauxhall, South London - now known as Nine Elms Park -
covers approximately 14 acres, of which 8.35 acres are developable pursuant to the outline planning consent granted
by the London Borough of Wandsworth (LBW) in March 2012.
Nine Elms Park is centred on a linear park, which runs the length of the site east to west, alongside residential-led
development and commercial space. It extends from the new US Embassy to the planned Northern Line extension,
which will provide two stations within walking distance.
With a masterplan by architects Allies and Morrison, Nine Elms Park comprises seven development plots and Plot C
is the third plot to be sold, sitting on the southwestern edge of the regeneration area, overlooking the designated Park
Basin communal/cultural open space, adjacent to the area of the site committed for a school.
The contracts for the sale are between Royal Mail plc and Galliard SPV [GDL (Nin