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ST MODWEN LAUNCHES LATEST PHASE OF DEVELOPMENT AT WOODINGDEAN BUSINESS PARK, BRIGHTON

30,000 sq ft of office accommodation to be launched on 18 September 2008

St Modwen, the UK’s leading regeneration specialist, has completed the latest phase of development – a £7 million scheme, providing over 30,000 sq ft of office accommodation – at its 9.5 acre Woodingdean Business Park, Brighton.

This is the third of six phases to be completed at the managed Business Park and will be launched at an open day on 18 September 2008. It comprises 16 two storey offices, of which four are already under offer and the remaining units, which range in size from 1,730 sq ft to 4,800 sq ft, are available on a freehold or leasehold basis at £225 per sq ft and £17.50 per sq ft, respectively.

To date, over 75,000 sq ft of industrial and office space has been delivered at the Business Park. Phase one comprises a 15,000 sq ft office building and Phase two a 30,000 sq ft industrial scheme of eight units. St Modwen has already secured planning consent to deliver phase four which, once works start on site, will eventually provide a scheme of six, single storey industrial units.

Paul Arnold, Senior Development Manager at St Modwen comments:

“Phases one and two have proved popular and despite current market conditions we are hoping for continued success with phase three. Early indications are encouraging with four of the office units here currently under offer.

“We are confident that the modern contemporary design of the office units together with the views to the English Channel and the South Downs, set in a modern landscaped environment will all help to drive the interest forward.”

For further details about the open day contact the appointed commercial agents Oakley Commercial, Simon Forrest on 01273 688882

For further information, please contact:

Charlotte McCarthy

PR Manager

St Modwen Properties plc

Tel: 07970 949 914

Email: cmccarthy@stmodwen.co.uk

Paul Raymer

Howle Chapman Raymer

Tel: 0121 313 1000

Paul Arnold

Senior Development Manager

St Modwen Properties plc (London)

Tel: 0207 788 3700