WIDNES APARTMENTS SALE TO HOUSING ASSOCIATION COMPLETES £35 MIL. DEVELOPMENT

Liebig Court, a development comprising 38 one- and two-bedroom apartments and six retail units by Widnes Regeneration Ltd, the joint venture between St Modwen Properties PLC and Halton Borough Council, has been sold to Places for People, one of the largest not-for-profit property management and development companies in the UK.

Richard Bakes, development manager, St Modwen, said: "Liebig Court will help to breathe new life into Widnes town centre with its mix of residential and retail units. The sale to Places for People will ensure that the 38 one- and two-bedroom apartments and the remaining unlet retail units will be made available to a broad sector of the market in accordance with the company¹s marketing strategy.

"We are very proud of the redevelopment of this area of Widnes which has injected some £35 millionof investment and created a quality of environment that was previously lacking. The partnership working between St Modwen and Halton Borough was a vital ingredient in bringing such a complex scheme to a successful conclusion."

Philip Helm, director of development (North West) for the Preston-based Places for People, said: "We are committed to widening access to home ownership and helping people to take those first steps onto the property ladder. Our aim is to provide a mix of facilities and services at Liebig Court to help to create a sustainable and prosperous place where people will start to live, work and play."

Savills acted for Widnes Regeneration.


Note to Editors

This sale completes a £35 million multi-phase scheme under which Widnes Regeneration has transformed the southern end of Widnes town centre
creating:

- a major supermarket relocated from Halebank, Widnes

- 40 housing units in Lacey Street, Widnes and four retail units in
Gerrard Street, Widnes to provide relocation opportunities for homes
and businesses displaced by the development.

- Alfred Court and Liebig Court, two apartment developments bringing
new residential opportunities into the centre of Widnes as well as
further local retail facilities.

- Simms Cross, a mixed office/retail scheme providing facilities for
local businesses replacing some long out-dated premises at the
edge of the town¹s shopping centre.

For further information contact Richard Bakes of St Modwen (01925 825950).
Issued by Paul Raymer of Howle Chapman Raymer (0121 313 1000).

Ref: MOD/55/08