ST MODWEN INVESTOR TOUR PUTS SPOTLIGHT ON MIDLANDS

St. Modwen has demonstrated its commitment to Midlands projects by inviting investors from across the UK to tour the developer’s portfolio of landmark regeneration schemes in the region.

In the same week that St. Modwen announced a return to profit in its Interim Results statement, the developer has put the spotlight on the Midlands with investors visiting key schemes in Rugby, Longbridge and Long Marston for an update on development progress and recent milestones.

In Rugby, the £35 million Warwickshire College is nearing completion and will receive its first students in time for the new academic year in September. The campus forms part of an 82 acre site where St. Modwen has secured outline planning consent to develop a £120 million urban community – the largest brownfield development in Rugby. Proposals for the area include 90,000 sq ft of industrial and warehouse space, more than 600 new homes plus 15 acres of public open space and landscaping.

At the £1 billion Longbridge regeneration project, an 88-week build programme is under way to construct the new £66 million Bournville College. This will see the relocation of the existing College in Northfield to new purpose-built premises on the junction of the A38 Bristol Road South and Longbridge Lane. The site is marked by three 30 metre-high cranes, which are visible from Rubery and Northfield and have dramatically changed the skyline over Longbridge. Spanning six storeys, the 250,000 sq ft college will occupy 4.2 acres and is the first phase of the proposed new £100m Longbridge Town Centre. The college is expected to welcome its first intake of students in September 2011.

At Long Marston, St. Modwen is focusing on its consented proposals for the £100 million Long Marston Masterplan. A leisure-led, mixed use scheme on a former MOD site at Long Marston, the Masterplan will feature up to 500 new homes and 300 holiday homes. It also includes an outdoor activity centre and caravan park, together with football and cricket pitches and a rail heritage centre. Stratford on Avon District Council granted planning consent for the Masterplan in February 2010, securing the future for businesses located within the 80,000 sq m of existing employment space on site and safeguarding hundreds of jobs.

St. Modwen’s regional director for The Midlands, John Dodds, said: “Here in the Midlands, St. Modwen has a strong portfolio of active regeneration schemes and we believe it is incredibly important to give our investors the opportunity to get out on site and take a close look at these key developments. Despite the economic climate, it has been business as usual for St. Modwen over the last 12 months. We have continued to make progress at Rugby, Longbridge and Long Marston and it is vital that we communicate this to our key stakeholders. In visiting these schemes and meeting the people involved, our investors are able to see the progress we are making and the positive impact of regeneration.

“The Investor Visit followed the announcement of our Interim Results which saw St. Modwen return to profits and NAV growth along with the resumption of dividends for the six months ended 31 May 2010. In addition we exhibited for the first time at the Local Government Association conference in Bournemouth to showcase our track record of working with over 60 local authorities nationwide. All of this activity highlights the proactive approach we are taking, not just in the Midlands but across the UK, as we continue to forge ahead as the UK’s leading regeneration specialist.”