RNS Number:1084Z
Grantchester Holdings PLC
25 July 2002



25 July 2002


Grantchester Holdings PLC


Grantchester Buys Merthyr Development Site from WDA



Grantchester Holdings PLC ("Grantchester"), the UK's leading retail warehouse
property group, has confirmed that it has bought a 30 acre site from the Welsh
Development Agency in Merthyr Tydfil which is designated for retail development.


Grantchester's proposals for the site, situated alongside the A470 above Merthyr
Town Centre, include 235,000 sq ft set aside for non-food retail development and
up to 5,000 sq ft for fast food outlets.


Commenting on the acquisition Grantchester's Chief Executive, Tim Walton, said:
"Grantchester has a proven track record in creating successful retail
developments in Wales adding to our development schemes in Bridgend and Cardiff.
We have identified Merthyr Tydfil as having great potential to develop as a
destination regional shopping centre and this particular site will allow us to
attract leading UK retail names which will complement the existing and future
town centre retail plans."


He added: "We look forward to bringing a fresh approach to the scheme and are
delighted to be working with WDA and Merthyr Tydfil County Borough Council to
revitalise Merthyr as a retail centre of regional significance."


The value of the acquisition is less than 5% of the last reported net asset
value of Grantchester.


                                    - ends -



Enquiries:

Tim Walton, Chief Executive    Grantchester Holdings PLC     020 7335 1200

Charlotte Lambkin

Luke Morton                    Bell Pottinger Financial      020 7861 3232




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