9 Jul 2020 09:00
9 July 2020
("Urban&Civic" or the "Company")
RESOLUTION TO GRANT PLANNING CONSENT FOR 3,520 HOMES AT MANYDOWN, BASINGSTOKE, HAMPSHIRE
Urban&Civic announces that a virtual Basingstoke and Deane planning committee held yesterday resolved to grant planning permission for up to 3,520 homes together with a 250- acre country park at Manydown as a new extension to Basingstoke in Hampshire.
Joint venture arrangements between Hampshire County Council, Basingstoke and Deane Borough Council, Urban&Civic and The Wellcome Trust will be completed shortly.
Virtual planning committees are now operating efficiently for many local authorities. The experience for Urban&Civic has been especially positive with subsidiary Catesby having achieved four approvals aggregating more than 1100 new homes with a 100 per cent success rate in the past month.
New house reservations are also currently exceeding the lowered expectations expressed with the March 2020 interim results, possibly on account of an increased interest brought about by the Covid 19 lockdown in well planned new communities within walking distance of schools and with guaranteed access to exceptional greenspaces.
Net reservations at Urban&Civic's five operational sites total 98 across the 20 housebuilders that have been undertaking staggered re-openings over the last five weeks. The average level of reservations across all sites during June amounted to the equivalent of one per week for each housebuilder. This is substantially higher than reported industry levels.
The raising of the stamp duty threshold to £500,000 until 31st March 2021 announced by the Chancellor yesterday is likely to accelerate housing starts by the housebuilders working on Urban&Civic sites.
-ENDS-
For further information, please contact
Urban&Civic plc |
| +44 (0)20 7509 5555 |
Nigel Hugill/David Wood |
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FTI Consulting |
| +44 (0)20 3727 1000 |
Giles Barrie/Dido Laurimore/Ellie Sweeney | urban&civic@fticonsulting.com |
About Urban&Civic:
Urban&Civic plc is the UK's leading Master Developer of large-scale strategic sites and is listed on the London Stock Exchange's main market (UANC).
The business was created to disrupt the established approach to the promotion and delivery of large scale residential-led strategic sites, bringing together the significant expertise and experience necessary to accelerate the delivery of high quality and sustainable new communities, including financing, land assembly, planning, project management, development and estate management.
Strategic land constitutes the core of Urban&Civic's business model with ten sites currently in the portfolio, either directly or in partnership, across over 11,000 acres of land predominantly within 100 miles of London. Of the sites in delivery or with an outline application submitted, these will provide approximately 33,500 new homes, in excess of seven million square feet of business space and at least sixteen primary and five secondary schools over the next 15 years or so.
It also has dedicated teams focusing on shorter-term commercial developments and smaller scale land promotion, which are respectively delivering investments in strong markets and housing in locations of proven need.