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16 Sep 2009 07:00
RNS Number : 1225Z
Michelmersh Brick Holdings PLC
15 September 2009
Michelmersh Brick Holdings plc
(“Michelmersh”)
Detailed planning application submitted on 16 acres of land at Telford
Michelmersh Brick Holdings plc (AIM: MBH), the specialist brick, land development and landfill company, announces that a detailed planning application for the development of 16 acres of its 85 acres of land at Telford, optioned to Persimmon Homes Ltd (“Persimmon”), one of the UK's leading house builders, under the terms of an agreement entered into in 2005, has been submitted.
Under the terms of the option, Persimmon has negotiated the scheme of development with the planning authority and engaged in the necessary public consultation.
The proposal is for the construction of 170 traditional style 2, 3 and 4 bedroom homes, with a total saleable floor area of 148,056 sq ft. The scheme provides for eight of the homes being affordable housing.
In preparation, Michelmersh has already completed all of the necessary site restoration and preparatory works for an immediate handover on receipt of planning approval.
Eric Gadsden, Chairman of Michelmersh, commented: “ A great deal of time, effort and expense has been incurred by Persimmon and ourselves in achieving an outcome that is economically viable in the current climate. This has led to a considerable delay in the project over the past twelve months as there has been protracted negotiation both over S106 contributions and appropriate level of affordable housing. However, Michelmersh and Persimmon are confident that the scheme will now progress to a detailed consent so that development can commence on site in early 2010.“
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For further information:
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Michelmersh Brick Holdings plc:
Martin Warner, Chief Executive
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01442 870227
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Charles Stanley Securities, Nominated Adviser:
Russell Cook
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020 7149 6000
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Tavistock Communications:
Jeremy Carey/Gemma Bradley
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020 7920 3150
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