Derwent London Regulatory News (DLN)

21 Jan 2008 10:00

Derwent London PLC21 January 2008 Derwent London plc ("Derwent London"/"Company") DERWENT LONDON SECURES PLANNING CONSENT FOR NEW 316,000 SQ FT SCHEME AT PADDINGTON Derwent London is pleased to announce that it has secured planning permissionfor a 316,000 sq ft (29,360 sq m) mixed use, canal side, scheme at 55-65 NorthWharf Road in Paddington, London W2. The site, at the heart of the PaddingtonBasin regeneration area, is directly opposite the northern entrance toPaddington Station. The proposed scheme includes the development of two new buildings: a 16 storeyoffice building of 240,250 sq ft (22,300 sq m), and a 100 unit residential blocktotalling 73,000 sq ft (6,780 sq m) of which 16 units will be for affordablehousing. The residential building will also include two ground floor retailunits, with a total area of 2,900 sq ft (270 sq m). The existing buildings onthe site, built in the late '60s and early '70s, comprise 84,000 sq ft (7,800 sq m) and are currently fully occupied. Simon Silver, Development Director at Derwent London, commented: "This is one of the last major sites within Paddington Basin to be developed andwe are very excited about the proposals which will provide a strikingarchitectural addition to the regeneration of the wider area. We are familiarwith Paddington following the successful pre-letting of our Telstar developmentto Rio Tinto, and we're confident about the continued growth of the area as abusiness destination." For further information please contact: Simon Silver/John Burns, Derwent London 020 7659 3000Dido Laurimore/Nicole Marine, Financial Dynamics 020 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange