Artisanal Sp.co Regulatory News (ART)

7 Jun 2006 10:05

Artisan (UK) PLC07 June 2006 news release For immediate release: 7 June 2006 Artisan (UK) plc New Site Purchases Artisan (UK) plc ("Artisan" or "the Company"), the residential house andcommercial business park developer, is pleased to announce the following recentland acquisitions. Contracts have been exchanged to acquire a four acre site in Peterboroughsubject to planning. The new site is known as Cygnet Park and is on the HamptonEstate. The planning process is well advanced and Artisan (UK) Developments, theCompany's business park developer subsidiary, is already entertaining the firstsales interests. Ultimately Artisan expects to develop approximately 60,000square feet of office space on Cygnet Park. Chris Musselle, Chief Executive of Artisan commented: "The acquisition of this site underlines our commitment to a continued presencein Peterborough, following the successful development of our Axon Park sitewhere we are currently building the final office unit. Artisan is making furtherprogress in meeting its strategy of refreshing and expanding its land bank inorder to further develop both businesses in the group. We have recentlycompleted the increase in our debt funding and are applying considerable efforttowards sourcing further sites" In addition Rippon Homes, Artisan's housebuilding subsidiary, has now completedon its contract to acquire 5.7 acre site at Lincoln which was announced on 22March. Development work will commence imminently and a sales presence will be inplace from this summer. The development will total 56 units. This site will actas Artisan's key site for the Lincolnshire area and the Company is assessingother smaller sites that will be effective satellites to the acquired site. Artisan (UK) plc: Chief Executive 01480 436666Chris Musselle email@artisan-plc.co.uk Seymour Pierce Nominated advisers 020 7107 8000Sarah Wharry Bankside Consultants Financial PR advisers 020 7367 8888Simon Rothschild 07703 167065 Company website: www.artisan-plc.co.uk This information is provided by RNS The company news service from the London Stock Exchange