ARE.L Regulatory News (ARE)

3 Jul 2006 07:02

Arena Leisure PLC03 July 2006 Arena Leisure Plc Lingfield Park Racecourse - Planning Update Arena Leisure plc ("Arena") is pleased to announce that Tandridge DistrictCouncil ("the Council") has resolved to grant outline planning permission forsignificant improvements to Lingfield Park Racecourse. These improvements, whichwill complete the transformation of the Racecourse, include a 120 bedroom hotel,new golf facilities and club house, extensive new leisure facilities and aleisure club, together with improvements to the racing facilities with newstables, stadia, bars and restaurants. In a related move, the Council also resolved to grant detailed permission forthe conversion of the Lingfield Park Leisure and Squash Club into 22 residentialapartments, together with the provision of a further three houses within itsgrounds. As a consequence of the Racecourse being within the Metropolitan Green Belt, theCouncil will now forward the outline application to the Government Office forthe South East ("GOSE"). Acting on behalf of the Secretary of State, GOSE willdecide whether to call the application in for further consideration. In thisregard, the proposed development results in the return of a sizeable portion ofcurrently developed land back to Green Belt and this will hopefully prove asignificant factor. If it is not called in, the Council will be advised thatpermission may be issued. These two decisions by the Council are a significant and important step forwardfor Arena in terms of its plans to maintain Lingfield Park Racecourse as animportant leisure facility in the South East of England. The cost of the two related developments is expected to be in the region of £25million. Arena will update the market in due course. Mark Elliott, Chief Executive of Arena Leisure commented; "We are delighted to have reached this stage. Lingfield Park Racecourse is setin a beautiful location and we have been working closely with the relevant localauthorities and communities to develop a scheme that we believe complements thesurroundings and will enhance the experience of visitors to the racecourse. These proposals have evolved from two years of detailed discussions withinterested parties at all levels. These decisions by the Local PlanningAuthority are an important endorsement of the national and local role ofLingfield Park, both now and in the future, as a racing and leisure destination.We hope that this decision will be confirmed by the Secretary of State over thecourse of the summer." - Ends - For further information: Arena Leisure PlcMark Elliott, Chief Executive 020 7595 2277 Bell Pottinger Corporate & FinancialDavid Rydell / Zoe Sanders 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange