KGP.L Regulatory News (KGP)

28 Nov 2005 10:49

Kingspan Group PLC28 November 2005 For Immediate Release 28 November 2005 Kingspan Group PLC Kingspan Offsite selected for the Government's first £60,000 houses Kingspan, a major manufacturer of an integrated range of products for theconstruction industry, is pleased to announce it has been included as asuccessful bidder in the first phase of the UK Governments £60,000 homeinitiative. Following tenders from six initial bidders, SIXTYK Consortium, BarrattDevelopments plc and George Wimpey UK have been selected by nationalregeneration agency, English Partnerships to build their Design for Manufacturehomes on four of ten publicly-owned brownfield sites. SIXTYK Consortium is a consortia consisting of developers Crest Nicholson,offsite manufacturers Kingspan, architects Sheppard Robinson, project managersDavis Langdon, engineers Arup and urban and environment planners MacFarlaneWilder. Its unique design for the competition relies on an off-sitepre-fabrication and an innovative 'Eco-hat', a central lantern built into eachof the new homes to allow more neutral light in to help manage heat moreeffectively. The Government's Design for Manufacture competition is a response to theshortage in supply of housing stock and an example of its commitment to deliverdecent, affordable homes for everyone - whether to rent or buy - in sustainablecommunities where people will be proud to live. It is anticipated that thepreferred bidders for the final six development sites will be announced inJanuary 2006 and the construction could begin on the first Design forManufacture competition homes as early as Spring 2006. Gene Murtagh, Kingspan CEO, commented "We are delighted to have been included in the 60K project and believe this tobe a strong message to the industry regarding the Government's making availablequality affordable housing which raises the standards and environmentalcredentials of new homes in the UK. "Off-site manufacturing (OSM) will be essential in meeting the needs foraffordable housing throughout the industry for the foreseeable future. Kingspanis fully equipped to meet that requirement head-on." For further information contact: Murray Consultants +353 1 4980300 James Dunny +353 86 388 3903 Buchanan Communications +44 (0) 20 7466 5000 Tim Thompson/Jeremy Garcia Notes to Editor Design for Manufacture is part of the Government's commitment to deliver decent,affordable homes for everyone - whether to rent or buy - in sustainablecommunities where people will be proud to live. There is mounting evidence thatyoung couples, families and key workers are finding it increasingly tough to geta place of their own: • Over the last 30 years we have seen demand for new homes increase by30% - people are living longer, and choosing to live alone - but house-buildingrates have dropped by over 50%. • The mismatch between supply and demand undermines economic stability.There are currently 150,000 fewer workers than jobs in the South East and ifnothing is done, that figure will treble by 2027. • Until the mid 1990s a First Time Buyer paid around 2.5 times theirannual income to buy their first home. First time buyers now have to pay morethan four times their salary to buy a property, rising to as much as seven timestheir salary in London. • • By 2026 the proportion of thirty something couples able to afford tobuy is set to fall to approximately a third, compared to half of couples todayand two thirds in the late 80s, if the country carries on with current buildingrates. Key features from the chosen homes include: • Flexible floorplans - homes that can adapt to their occupier's changinglifestyles, such as the house proposed by Barratt with a room in the roof anddouble height living room, and homes with no internal structural walls, makingthem more adaptable; • • 'Eco-hats' - like those proposed by George Wimpey and SIXTYK - centrallanterns built into the roofs of homes that allow more natural light in to helpmanage heat more effectively. All the winning homes achieve EcoHomes 'verygood' or 'excellent' standard; • Built in surveillance - home designs which enable a good view onto thestreet from inside the home, in keeping with the requirements of the Secured byDesign standard. • Accessibility - enabling access around the home by wheelchair users, orthe flexibility to make changes such as the insertion of a lift. The preferred bidders for a further six sites are expected to be announced byJanuary 2006, with construction of the first Design for Manufacture homesexpected to start in Spring 2006. A publication highlighting the lessons learntfrom the competition, together with a public exhibition to showcase the £60,000home designs are also planned. This information is provided by RNS The company news service from the London Stock Exchange