ST. MODWEN SECURES NATIONAL RETAIL NAMES FOR NEW WYTHENSHAWE DEVELOPMENT

St. Modwen, the UK’s leading regeneration specialist and Wythenshawe Town Centre partner, has secured two major pre-lets at its 43,000 sq ft Etrop Court development in Wythenshawe, Manchester, part of the developer’s £100 million ongoing redevelopment of the Town Centre.

International value supermarket giant, Netto has taken a long term lease of 125 years, on a 12,000 sq ft store for £2.3 million, whilst value household retailer Wilkinson has taken a 23,000 sq ft building, on a 15 year lease at £7.25 per sq ft. Both will be situated on the 3-acre site which fronts onto Poundwick Lane at the northern end of The Birtles.

Alongside these prestigious occupiers, St Modwen will also create 4,000 sq ft of new Grade A office space, 7 new retail kiosk units ranging from 300 sq ft up to 935 sq ft and 79 additional free of charge car parking spaces.

Steve Knowles, development director, St. Modwen said:

“These deals provide a major boost to our ongoing improvement plans at Wythenshawe town centre. Over a number of years we have seen the town centre steadily improve and attracting new national retailers to the area is key to this continual programme of improvement works.

“The fact that we can attract this level of interest in Wythenshawe in this economic climate is a clear sign that the town’s stock is rising. These deals will add hugely to the town’s retail offer and we are sure they will trade very well.”

A planning application for the development has been submitted and it is anticipated that construction work will start in summer 2009 with a target date of the second quarter of 2010 for retailers to take occupancy of the new stores.

Johnson Fellows acted for St Modwen, Ian Scott & Co acted for Netto and Wilkinson represented itself.

Notes to Editors

Wythenshawe Town Centre:

Wythenshawe Town Centre masterplan approved by Manchester City Council in 2006, envisages a total investment of up to £130 million over a ten-year period.

St. Modwen and the City Council have worked closely on the regeneration of Wythenshawe Town Centre since1996 when St. Modwen entered into a long-term lease/development agreement with the city. The first stage was the relocation of the market, the upgrading of the malls, new retail space built in Haletop and a general refurbishment programme involving the entire centre.

St. Modwen Properties plc:

St Modwen is the UK’s leading regeneration specialist, operating across the full spectrum of the property industry through a network of six regional offices and a Birmingham-based head office. The company is wholly focussed upon regeneration with expertise in brownfield land renewal, town centre regeneration, partnering with industry and heritage restoration.

For further information, please contact:

Steve Sanders

Paver Smith

T: 0151 239 5000

M: 07827 892 671

E: sanders@paversmith.co.uk

Charlotte McCarthy

PR Manager

St. Modwen Properties plc

T: 0121 222 9400

E: cmccarthy@stmodwen.co.uk