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MARKET CONFIDENCE TRIGGERS START ON PHASE 2, HERON BUSINESS PARK, WIDNES

Demonstrating its commitment to the regeneration of Widnes and Runcorn and its confidence in the area’s commercial property market, Widnes Regeneration Ltd, the joint venture between St Modwen Properties plc and Halton Borough Council, has started the second phase of speculative development works at Heron Business Park , in Widnes, Cheshire.

The second phase of development, scheduled to complete in January 2009, will comprise 19 business units providing 73,700 sq ft of modern industrial space in a range of units from 1,590 sq ft up to 23,414 sq ft and will provide flexible accommodation, suitable for office, light industrial and general manufacturing uses, with priority given to small and modern sized enterprises within the technology sectors. The units will be available by way of a short term lease or purchase of a 250-year lease.

Richard Bakes, development surveyor for St Modwen, comments: “To start building works in a difficult economic climate is a testament to the good levels of interest we continue to receive in Heron Business Park, since delivering the first phase of development here.

“Having let over 80 per cent of the first phase of the business park, we are confident that occupiers will take advantage of Heron’s excellent location at the heart of the Widnes Waterfront Economic Development Zone (EDZ), close to the M62 and M56. With further development and environmental improvements, including the creation of a linear park, will significantly enhance the waterfront as the place to do work.”

The project is funded by St Modwen and the North West Development Agency and supported by Halton Borough Council.

Dixon Webb is the agent acting for Widnes Regeneration.

For further information, please contact:

Charlotte McCarthy

PR Manager

St Modwen Properties plc

Tel: 07970 949 914

Email: cmccarthy@stmodwen.co.uk

Richard Bakes

Development Surveyor

St Modwen Properties plc

Tel: 01925 825950

Paul Raymer

Howle Chapman Raymer

Tel: 0121 313 1000