Telford Homes PLC Acquisition of Stone Studios, E9 (2679D)
April 25 2017 - 6:20AM
UK Regulatory
TIDMTEF
RNS Number : 2679D
Telford Homes PLC
25 April 2017
25 April 2017
Telford Homes Plc
('Telford Homes' or the 'Group')
Acquisition of Stone Studios, E9
Telford Homes Plc (AIM: TEF), the residential property developer
focused on non-prime London, is pleased to announce that it has
exchanged contracts for the purchase of Stone Studios, a
significant residential-led mixed-use development site on Wallis
Road, Hackney Wick, E9.
The 1.06 acre site, which is located between Victoria Park and
the Queen Elizabeth Olympic Park, has detailed planning permission
granted by the London Legacy Development Corporation ('LLDC').
Serviced by excellent transport links, including direct access to
the adjacent Hackney Wick Overground station, the area has become a
highly desirable location to live and work.
The redevelopment by Telford Homes will deliver 110 new open
market homes and 10 affordable homes along with 54,218 sq.ft. of
commercial space including 32,540 sq.ft. of affordable workspace.
Stone Studios, which has been designed by architects Pollard Thomas
Edwards, has been shortlisted for a Housing Design Award 2017. The
gross development value of the scheme is expected to be over GBP80
million and the Group intends to commence work on site later in
2017 with completion anticipated in 2020.
Jon Di-Stefano, Chief Executive of Telford Homes, commented:
"Stone Studios is situated in one of London's most exciting and
fast changing neighbourhoods and we are delighted to have exchanged
contracts for this significant site as it further enhances our
already strong development pipeline. The location fits perfectly
with our strategy of developing homes for sale in non-prime London
and it is particularly pleasing that it already benefits from a
planning consent. As a result, we can commence work later this year
and deliver much needed new homes as swiftly as possible."
- Ends -
For further information:
Telford Homes Plc
Jon Di-Stefano, Chief Executive
Katie Rogers, Financial Tel: +44 (0) 1992
Director 809 800
Guy Lambert, Head of Corporate www.telfordhomes.london
Communications
Shore Capital (Nomad and
Joint Broker)
Dru Danford / Patrick Castle Tel: +44 (0) 20
7408 4090
Peel Hunt LLP (Joint Broker)
Charles Batten / Capel Irwin Tel: +44 (0) 20
7418 8900
Media enquiries:
Buchanan (PR Adviser)
Henry Harrison-Topham / Tel: +44 (0) 20
Victoria Hayns 7466 5000
telfordhomes@buchanan.uk.com www.buchanan.uk.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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