MJGleeson Regulatory News (GLE)

6 Mar 2008 10:28

Gleeson(M J)Group PLC06 March 2008 Thursday 6 March 2008 GLEESON SELECTED AS PREFERRED DEVELOPMENT PARTNER FOR MARGATE REGENERATION SCHEME MJ Gleeson Group plc (GLE.L), the housing regeneration and strategic landspecialist, announces that the Group has been selected as preferred developmentpartner for the Rendezvous Site in Margate, a substantial scheme and keyregeneration initiative in north east Kent. The Rendezvous Site is located on the seafront adjacent to Old Town, Margate,next to the location of the proposed Turner Contemporary Gallery, to be designedby 2007 RIBA Stirling Award winner, David Chipperfield Architects, and due toopen in late 2010. JMW Turner, one of Britain's finest landscape and marineartists, was born and lived much of his life (1775-1851) in Margate. The development of the Rendezvous Site is intended by Kent County Council andits regeneration partners to complement the Turner Contemporary Gallery and toreinforce the regeneration benefit. The Gleeson team's proposals, which will berefined in the coming weeks, include a four star hotel, some commercialdevelopment and a new substantial residential crescent. The mixed-usedevelopment should be substantially underway by late 2010. Duncan Thomas, a Director in DTZ's Development Consulting team, which advisedKent County Council on the developer selection competition, said "We areextremely pleased by the decision to select Gleeson as preferred developmentpartner. The quality of Gleeson's proposals, and the exciting range of uses,confirm the confidence which we have had throughout the developer selectionprocess in the Rendezvous Site as a landmark development opportunity. We lookforward to working with the Gleeson team over the coming months." Steve Peters, Managing Director of Gleeson Regeneration and Homes South,commented "We are delighted with our appointment and are very much lookingforward to working alongside Kent County Council and its regeneration partnerson this prestigious scheme. Our appointment is testament to the expertise andexperience of our development team, not least in connection with theregeneration of another brownfield site in Kent, Stanhope Estate in Ashford,where Gleeson was appointed developer in April 2007 and is currently makingexcellent progress." Enquiries: MJ Gleeson Group plc 01252-360 300Paul Wallwork (Group Chief Executive)Steve Peters (Managing Director, Gleeson Developments (Southern Region)) Bankside Consultants LtdCharles Ponsonby 0207-367 8851 This information is provided by RNS The company news service from the London Stock Exchange