ARE.L Regulatory News (ARE)

13 Sep 2006 07:02

Arena Leisure PLC13 September 2006 Arena Leisure Plc Lingfield Park Racecourse - Planning Update No call-in by the Secretary of State Arena Leisure plc ("Arena") is pleased to announce that Tandridge DistrictCouncil ("the Council") has received confirmation from the Government Office forthe South East that the planning applications it had resolved to approve in July2006 for the redevelopment of Lingfield Park Racecourse will not be called infor determination by the Secretary of State. As a consequence, planning permission for the significant improvements atLingfield Park Racecourse has now been secured, subject to finalising legalagreements with the Council and the approval of a reserved matters application. These improvements will complete the transformation of the Racecourse andincorporate a 120 bedroom hotel, new golf facilities and club house, extensivenew leisure facilities and a leisure club, as well as improvements to the racingfacilities providing new stables, stadia, bars and restaurants. In July, theCouncil had already resolved to grant detailed permission for the conversion ofthe existing Lingfield Park Leisure and Squash Club into 22 residentialapartments, together with the provision of a further three houses within itsgrounds. This is a significant and important step forward for Arena in terms of its plansto maintain Lingfield Park Racecourse as an important leisure facility in theSouth East of England. The cost of the two related developments is expected tobe in the region of £25 million. Arena will be announcing its interim results for the six months ended 30 June2006 on 20 September 2006. Mark Elliott, Chief Executive of Arena Leisure commented; "The development of our racecourses is an important part of Arena's strategy. "We worked very hard to develop a scheme for Lingfield Park Racecourse thatcomplemented the Racecourse's picturesque surroundings and, most importantly,enhanced the experience of its customers. We are therefore delighted that theGovernment Office for the South East, on behalf of the Secretary of State, hasaccepted this. "This decision is also an important endorsement of the national and local roleof Lingfield Park, both now and in the future, as a racing and leisuredestination." - Ends - For further information: Arena Leisure PlcMark Elliott, Chief Executive 020 7495 2277 Bell Pottinger Corporate & FinancialDavid Rydell / Geoff Callow 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange