Wt Wner Usd Regulatory News (WNER)

27 Aug 2008 14:38



Warner Estate Holdings PLC

Warner Estate and Aylesbury Vale District Council exchange formal development agreement for town centre regeneration project

Warner Estate Holdings PLC ("Warner Estate") and Aylesbury Vale District Council ("the Council") have entered into a formal Development Agreement for the mixed use Waterside Shopping regeneration project in Aylesbury town centre. The Development Agreement provides a comprehensive legal and financial framework, under which Warner Estate, in partnership with the Council, will deliver the multi-million pound scheme, which is to be known as Waterside Shopping.

This follows the announcement earlier this year that Debenhams is set to anchor the retail element of the scheme with an 80,000 sq ft department store. Through Waterside Shopping, Warner Estate will also introduce approximately 30 shops, a food store, 750 car parking spaces and an attractive new public space to complement the town's new Theatre.

Michael Stevens, Property Director at Warner Estate comments: "The formal signing is the culmination of much hard work by Warner Estate and Aylesbury Vale District Council and demonstrates the commitment of both to bringing about this mixed-use regeneration project in order to maximise Aylesbury's potential. We continue to progress our proposals in advance of submitting a planning application in the coming months."

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Date: 27 August 2008