Wt Wner Usd Regulatory News (WNER)

27 Mar 2006 12:53

Warner Estate Holdings PLC27 March 2006 WARNER ESTATE CONFIRM COLLABORATION AGREEMENT WITH AYLESBURY VALE DISTRICT COUNCIL FOR MULTI MILLION POUND HALE LEYS EXTENSION Warner Estate Holdings PLC ("Warner Estate"), owner of the Hale Leys ShoppingCentre in Aylesbury, can confirm that it has now entered into a CollaborationAgreement with Aylesbury Vale District Council as the principal developer forthe multi million pound retail element of the Waterside redevelopment scheme. Warner Estate will develop 265,000sq ft of new retail space, designed around a80,000sq ft department store and a 50,000sq ft food store, which will be fullyintegrated with the existing Hale Leys Shopping Centre. Both the Council and Warner Estate hope to create a scheme which will enhancethe existing townscape and provide a natural link between the High Street,Market Square and the new theatre and entertainment centre on the southern sideof Exchange Street. This will be achieved by making Hale Leys an integral partof the development. Property investment company Warner Estate will lead the retail project withdevelopment partner Bride Hall Developments Ltd. The Council has requested thata short list of architects is invited to propose designs for the scheme and itis understood this includes Bernard Engle, who worked on previous proposals forWaterside, and ESA, who have worked on the initial conceptual ideas for WarnerEstate. It is expected that a preferred architect will be announced shortly. Michael Stevens, Property Director at Warner Estate comments: "We are delightedto confirm our involvement in this joint project which will greatly enhanceAylesbury town centre. Our proposed investment in the retail element ofWaterside of close to £100million is intended to complement the existing markettown through high quality design, improving and raising Aylesbury's profile asan exciting destination for shoppers. We will be providing modern retail unitssuitable for the major high street fashion retailers and introducing newrestaurants and cafes. We expect our new investment will create many new jobopportunities in the very heart of the town." "Our team is now working up detailed plans for the retail and public spaces andwe shall keep the public fully informed of our progress." Councillor John Cartwright, Leader of Aylesbury Vale District Council, said: "Weare very pleased that a development partner has now been secured for theregeneration of the northern side of Exchange Street as part of the Watersidescheme. The Hale Leys Shopping Centre is an essential element of the Watersideproject and our plans to transform Aylesbury into one of the region's mostvibrant and successful places to live, work and shop. "The retail scheme will benefit local businesses and their customers, and willalso be a major factor in attracting shoppers into Aylesbury from furtherafield. It represents a massive step forward in delivering the long-term growthplanned for the district." -ends- Date: 27 March 2006 For further information contact: Warner Estate Holdings PLC City ProfilePhilip Warner, Chairman Simon CourtenayMichael Stevens, Property Director Tel: 020-7488-3244Peter Collins, Finance DirectorTel: 020-7907-5100 Web: www.warnerestate.co.uk This information is provided by RNS The company news service from the London Stock Exchange