Terrace Hill Group PLC Planning recommendation for new foodstore (7889S)
November 12 2013 - 4:04AM
UK Regulatory
TIDMTHG
RNS Number : 7889S
Terrace Hill Group PLC
12 November 2013
12 November 2013
TERRACE HILL GROUP PLC
("Terrace Hill" or the "Company")
TERRACE HILL WINS PLANNING RECOMMENDATION FOR NEW FOODSTRE AND
LEISURE SCHEME IN MIDDLESBROUGH
Terrace Hill Group plc (AIM: THG), a leading UK property
development and investment group, announces that Middlesbrough
Council's Planning Committee has endorsed planning officers'
recommendation to approve three planning applications submitted by
the Company, the first two of which relate to a new 80,000 sq ft
Sainsbury's foodstore, a petrol filling station, together with a
KFC Drive thru, Coffee shop and a Marston's family restaurant at
Gateway Middlehaven. The relocation will release the existing
Sainsbury's store for redevelopment, which was the subject of the
third application for the creation of nine retail and leisure
units, an 80 bed hotel and a coffee shop, integrating into the
existing town centre.
In addition to being conditional on the execution of a Section
106 agreement with Middlesbrough Council and because the
recommendation is outside of the local planning policy, the
applications are now subject to referral to the National Planning
Casework Unit on behalf of the Secretary of State for Communities
and Local Government Secretary of State.
Philip Leech, Chief Executive Officer of Terrace Hill, said:
"The decision by Middlesbrough Council's strategic planning
committee to endorse this planning application is another
significant step towards the delivery of this important project
which will bring over 800 new full and part time jobs to the area.
Subject to final planning approval, we are targeting a start on
site in the first half of next year with completion approximately a
year thereafter."
For further information, please visit www.terracehill.co.uk or
contact:
Terrace Hill Tel: 020 7631 1666
Philip Leech/Jon Austen
FTI Consulting Tel: 020 7831 3113
Richard Sunderland/Will Henderson/Nick Taylor
terracehill@fticonsulting.com
Oriel Securities (Nominated Adviser) Tel: 020 7710 7600
David Arch
Mark Young
Notes to editors:
Terrace Hill Group
Terrace Hill Group PLC is a regionally based UK property
development and investment group quoted on AIM.
Formed in 1986, the Company has five offices located in London,
Glasgow, Teesside, Bristol and Manchester.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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