4 Jul 2016 07:00
4 July 2016
Urban&Civic plc
("Urban&Civic" or "the Company")
REDROW JOIN ROSTER OF HOUSEBUILDERS AT URBAN&CIVIC'S ALCONBURY WEALD
Urban&Civic plc announces that contracts have been entered into with Redrow plc to build out 200 plots under licence on a third parcel of infrastructured land comprising 16.6 acres at Alconbury Weald in Cambridgeshire. The first two parcels are being developed respectively by Hopkins Homes (who are on site now) and Morris Homes (who are scheduled to start building in September 2016). Redrow are also expected to commence construction in early Autumn.
In aggregate, Urban&Civic has contracted on almost 500 plots across 41 developable acres at Alconbury Weald, with full infrastructure all the way down to tree planting. Buyers are reacting accordingly: 29 private housing reservations have been taken by Hopkins since coming on site in mid-April, all of which appear to be owner occupiers. The first primary school designed by Stirling Prize winning architects Allford Hall Monaghan Morris will open at the start of the next academic year in September 2016.
Welcoming Redrow as the most recent addition to the roster of new housebuilders at Alconbury Weald, Nigel Hugill, CEO of Urban&Civic, said: "Redrow are reputed for the quality of their housing offer. The fact that they are prepared to complete arrangements at the current time is both a reflection of our shared aspirations for Alconbury and the strength of the Urban&Civic licence model. We have established a reputation for providing housebuilders with exactly what suits them at the moment; the ability to recycle capital rapidly in a carefully crafted sales environment."
John Mann, Managing Director of Redrow Homes (South Midlands), said: "Alconbury Weald is a great location for us, given our existing developments in St Neots and Hauxton, near Cambridge. We plan to build a mix of three, four and five-bedroom homes inspired by our Heritage Collection, which will complement and enhance the existing offering."
-Ends-
For further information, please contact:
FTI Consulting | |
Giles Barrie | 020 3727 1000 |
Ellie Sweeney | urban&civic@fticonsulting.com |
Dido Laurimore |
About Urban&Civic plc
Urban&Civic plc is a property development and investment company listed on the London Stock Exchange's main market (UANC). The Group was formed through the reverse takeover of AIM‐listed commercial property developer Terrace Hill by unlisted strategic residential land company Urban&Civic in May 2014. The takeover was undertaken in parallel with a capital raise of £170m, creating a management team and board with an outstanding track record and the ambition to grow a new "Best in Class" UK real estate business.
Urban&Civic is led by Nigel Hugill and Robin Butler, who co‐founded the business in 2009 having previously led major London regeneration projects such as the White City shopping centre, Stratford City, Paddington Basin and Elephant and Castle.
Urban&Civic have a dual focus of large scale strategic sites and bespoke commercial projects.
Commercial development and investment assets are focused on bespoke, predominantly mixed use schemes in dynamic cities and towns as well as key growth locations. In addition to Princess Street and Whitworth Street, these include the proposed redevelopment of the Renaissance Hotel at Deansgate, Manchester and a hotel development directly connected to Stansted airport.
From a strategic land perspective, Urban&Civic are taking forward over 3000 acres of land across four sites located close to Cambridge, Huntingdon, Newark and Rugby delivering more than 20,000 new homes.