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St Modwen selected as development partner for former Dursley Works site

The South West Regional Development Agency, after formal marketing, has selected St Modwen Properties PLC as the preferred development partner for the 92-acre former Lister-Petter site in Dursley, Gloucestershire.

The innovative mixed use scheme will involve the creation of a new sustainable urban community, featuring some 600 new dwellings and the development of new employment premises, which with the relocation of the existing tenants on site should create circa 1,000 jobs.

The South West RDA and St Modwen Properties PLC are currently completing the joint venture arrangements hope to start on site in 2003. Mr Steven Holland, South West RDA Regeneration Manager (Major Projects), of commented: “This represents a unique opportunity to redevelop a challenging brownfield site into a sustainable urban community, adopting the principles set out in our Sustainable Development Framework document. We are very pleased to be working with St Modwen on such a significant scheme.”

Mr Anthony Glossop, Chief Executive and Deputy Chairman of St Modwen Properties PLC said: “We are delighted to have been chosen to develop and deliver this innovative scheme and look forward to working closely with our partners, the South West Regional Development Agency.”

For further information contact David Cockroft of St Modwen on 0121-456-2800

or e-mail: Issued by Paul Raymer of Howle Chapman

Raymer (0121-236-7771).