Royal Mail PLC Exchange of contract for sale of Nine Elms plot (3943N)
17 Januar 2019 - 11:36AM
UK Regulatory
TIDMRMG
RNS Number : 3943N
Royal Mail PLC
17 January 2019
Royal Mail plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code: RMG
ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
17 January 2019
ROYAL MAIL PLC
EXCHANGE OF CONTRACTS WITH GALLIARD HOMES FOR SALE OF 0.9 ACRE
PLOT ON NINE ELMS PARK SITE
Royal Mail plc (RMG.L) announces that contracts have been
exchanged unconditionally for the sale of a 0.9 acre plot (Plot C)
on its Nine Elms Park site to Galliard Homes for GBP22.2 million in
cash.
Galliard Homes intends to develop 262 residential units on Plot
C, of which 25 per cent will be affordable housing. The new
residential development will be delivered by Galliard Homes in
partnership with O'Shea.
Royal Mail's former South London mail centre site in Vauxhall,
South London - now known as Nine Elms Park - covers approximately
14 acres, of which 8.35 acres are developable pursuant to the
outline planning consent granted by the London Borough of
Wandsworth (LBW) in March 2012.
Nine Elms Park is centred on a linear park, which runs the
length of the site east to west, alongside residential-led
development and commercial space. It extends from the new US
Embassy to the planned Northern Line extension, which will provide
two stations within walking distance.
With a masterplan by architects Allies and Morrison, Nine Elms
Park comprises seven development plots and Plot C is the third plot
to be sold, sitting on the southwestern edge of the regeneration
area, overlooking the designated Park Basin communal/cultural open
space, adjacent to the area of the site committed for a school.
The contracts for the sale are between Royal Mail plc and
Galliard SPV [GDL (Nine Elms) Limited]. A 15 per cent deposit of
GBP3.33 million has been paid following exchange of contracts. The
remaining GBP18.87 million is payable on completion, which will be
at the end of June 2019.
Martin Gafsen, Group Director of Property & Facilities
Solutions, Royal Mail, said: "The sale of the third plot on our
Nine Elms site to Galliard Homes marks the next step in our
contribution to the emerging residential community in this exciting
new area of the capital."
Stephen Conway, Executive Chairman of Galliard Homes said:
"Galliard Homes is pleased to have acquired this central London
consented site, which once complete will be located within a park
setting, just a short walk to the River Thames and Houses of
Parliament. The wider regeneration area is creating a new
destination for South London and has already attracted several
major occupiers."
-Ends-
Investor Relations:
Catherine Nash
Phone: 020 7449 8183
Email: investorrelations@royalmail.com
Company Secretary:
Kulbinder Dosanjh
Phone: 020 7449 8133
Email: cosec@royalmail.com
Media Relations:
Sally Hopkins
Phone: 020 7449 8252 or 07801 094345
Royal Mail press office: 020 7449 8246
Email: sally.hopkins@royalmail.com
About Royal Mail plc
Royal Mail plc is the parent company of Royal Mail Group
Limited, the leading provider of postal and delivery services in
the UK and the UK's designated universal postal service provider.
UK Parcels, International and Letters ("UKPIL") comprises the
company's UK and international parcels and letters delivery
businesses operating under the "Royal Mail" and "Parcelforce
Worldwide" brands. Through the Royal Mail Core Network, the company
delivers a one-price-goes-anywhere service on a range of parcels
and letters products. Royal Mail has the capability to deliver to
around 30 million addresses in the UK, six days a week (excluding
UK public holidays). Parcelforce Worldwide operates a separate UK
network which collects and delivers express parcels. Royal Mail
also owns General Logistics Systems (GLS) which operates one of the
largest ground-based, deferred parcel delivery networks in
Europe.
About Galliard Homes
Founded in 1992, Galliard Homes is one of London's largest
developers. Over its 26-year history the Galliard Group has evolved
from its residential property origins to be a leading authority and
expert in construction and the development of large mixed-use
schemes and commercial hospitality premises. The group has over 700
staff and a development portfolio worth over GBP3.8 billion
currently under construction, including nearly 7,000 homes and 290
hotel suites, across two new hotels. Galliard Homes is involved in
the regeneration of the former Royal Mail North London sorting and
delivery centre in Islington into Islington Square, a new mixed-use
development. Through strategic joint venture partnerships Galliard
Homes has steadily moved into other key cities throughout the UK,
and 2017 saw the group acquire a portfolio in Birmingham with a
gross development value of over GBP500 million. Led by Executive
Chairman Stephen Conway, who founded the company, Galliard Homes is
a development partner of Cain International, Frogmore, McCourt,
O'Shea, Vanke, Acorn and Apsley House Capital. Galliard Homes is
award winning and in recent years has won international prizes for
its development's The Chilterns, Baltimore Tower, Metropolitan
Crescent and The Stage, to name a few. Its nominated charity is
Great Ormond Street Hospital Children's Charity and the group
actively seeks opportunities to work with the communities in which
it develops. Galliard HR has three strands to it and the company is
passionate about growing and developing its workforce. Through its
three schemes; Evolve, Elevate and Engage, Galliard HR works from
internship level up to support its staff and employ the best in
business.
www.galliardhomes.com
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END
MSCUBORRKUAAAAR
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