FORMER GUISELEY FACTORY SITE SOLD TO BELLWAY HOMES

St Modwen Properties PLC  has sold seven acres of former industrial land in Guiseley, West Yorkshire, to housebuilder Bellway Homes.

Bellway, who was successful following keen competition from several other national housebuilders, plans to start the development of up to 140 dwellings early in the New Year.

St Modwen, the UK¹s leading regeneration specialist,  acquired the former Brook Compton factory site in 2002 as part of a portfolio of properties from Invensys  and initially operated it as an employment site before obtaining planning permission for residential use.

Outline planning permission was granted last November for up to 140 dwellings, 25% of which will be affordable ,and the site was subsequently cleared of nearly 600,000 sq ft of factory buildings and remediated by St Modwen  to make it suitable for residential use.

Stephen Prosser, Regional Director of St Modwen, said: ³Guiseley is a further example of our ability, working with industrial owners and local authorities, to transform redundant factories into viable ready-to-develop residential sites. This allows house builders to begin construction immediately and  rapidly meet local demand.²

For further information contact Stephen Prosser of St Modwen (0113 272 7070). Issued by Paul Raymer of Howle Chapman Raymer (0121 313 1000).