ST MODWEN SIGNS AGREEMENT TO REDEVELOP FORMER AGRO-CHEMICAL PLANT SITE

St Modwen Developments Ltd, the development subsidiary of St Modwen Properties PLC, has entered into an agreement with Syngenta Ltd for the remediation and redevelopment of its former agro-chemical plant site in Yalding, Kent.

The site, which adjoins Yalding Station and totals more than 100 acres, has not been operational since 2004.  A planning application has been submitted for the site’s remediation, which will be undertaken by Syngenta at an estimated cost of more than £20 million.

St Modwen, which will be undertaking the redevelopment of the site after its remediation,  is proposing a mixed-use commercial and residential development on 40 acres of the site together with a large area of public open space. A planning application for the redevelopment  is expected to be submitted before Christmas.

Simon Rutter of St Modwen, said: ” Our aspiration is for a mixed-use regeneration scheme with all the positive benefits of its attractive environment.

“We have worked very closely with Syngenta and remediation contractor EDS to ensure a comprehensive redevelopment is achievable and deliverable in an environmentally sensitive location.”

Neil Ward, Syngenta’s site re-development manager, said: “I am very pleased to welcome the next phase of Yalding’s re-development. We have always been committed to delivering a thorough clean-up of the site.  We have now selected St Modwen for their experience in regeneration projects and their like-minded approach to sensitive issues and public communication. I am sure they will provide an exciting and high quality development for the Yalding community.

“I am looking forward to seeing rapid progress on the development and to welcoming the new residents in their new homes.”

For further information contact Simon Rutter of St Modwen (020 7499 5666).Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).