News Archive

ST. MODWEN SIGNS £35M DEVELOPMENT AGREEMENT TO BUILD NEW WARWICKSHIRE COLLEGE

St. Modwen, the UK’s leading regeneration specialist has signed the Development Agreement to build the new £35 million Warwickshire College in Rugby, Warwickshire.

Funding for the 150,000 sq ft College will come from the Learning Skills Council. The new campus will sit on the 82 acre, former 700,000 sq ft Alstom Industrial complex which St. Modwen acquired in 2001, of which 400,000 sq ft is currently leased to Converteam, a supplier of electric power and propulsion packages. On the remaining 70 acres St. Modwen has secured outline planning to develop a £120 million urban community – the largest brownfield development in Rugby.

Works to the College will start on site next month, with students planned to be on site in September 2010. Amongst the many new facilities, will include a ‘Power Academy’ for which funding of £6.3 million has been secured from Advantage West Midlands.

The Academy is closely linked to Converteam and Alstom Power and is specifically designed as the core training centre to develop technicians for the new generation of power stations, with a focus on turbines and carbon friendly power generation.

Peter Rudd, development surveyor, St. Modwen says:

“Signing the Development Agreement with Warwickshire College represents an important step in progressing our the broader regeneration plans for Rugby. It also illustrates that good opportunities still exist in the current marketplace where there are well located sites with excellent development potential.

“Warwickshire College is the second education facility that St. Modwen will be building in 2009, the other being the £84 million Bournville College at Longbridge where we are regenerating the 468 acre, former MG Rover site.”

-ENDS-

NOTES TO EDITORS

The new college will provide the following facilities:

* 120-seater multi-purpose hall

* 350 square metre library

* 1,000 square metres of engineering space

* 1,200 square metres of conferencing and business facilities

* 1,000 square metres performance, music and dance facilities

* A full size football pitch that can be broken down into three five-a-side pitches

* 300 square metres of hair and beauty space

* 1,050 square metres of construction training facilities

St. Modwen’s proposed £120 million urban community will comprise:

– The new £35 million college

– Circa 90,000 sq ft of B1 industrial space, built on five acres

– 15 acres of public open space and landscaping

– A new spine road, linking Mill Road and Leicester Road and providing direct access to the site

– Over 600 homes

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 seven regional offices and a Birmingham based head office. The company is wholly focussed upon regeneration with expertise in town centre regeneration, partnering industry, brownfield land renewal and heritage restoration.

For further information, please contact:

Charlotte McCarthy

PR Manager

St. Modwen

T: 07970 949 914

E: cmccarthy@stmodwen.co.uk