PENISTONE ROAD SALE

Statement:

Stephen Prosser, Northern Regional Director at St. Modwen, said:

“We were continuing with our proposals for our Penistone Road site and had carried out demolition and the full remediation of the site and had every intention of progressing our development plans. However, Abbey Forged Ltd, which owns the adjacent site and has plans to expand its operation, approached us in the spring last year with a sensible proposal which we accepted resulting in the subsequent sale of the site in August last year.”