Nicholson Plc, in partnership with Meridian Delta Limited (the £5bn joint venture between Lend Lease and Quintain), has entered into an exclusivity agreement to develop a 1.1 acre site on the north-eastern shoulder of the Greenwich Peninsula.

Located adjacent to the QE II Quay, to the south of The O2, the project will provide 295 one, two and three bedroom apartments and approximately 120 parking spaces, together with approximately 5,000 sq ft of retail floor space. A planning application is targeted for submission in July 2007 with work anticipated to start in Spring 2008.

Working with FLACQ Architects, a new architecture and masterplanning practice born out of the skills and experience of Richard Rogers Partnership, the properties will have an EcoHomes Rating of Excellent, equivalent to better than the new Code for Sustainable Homes Code Level 3. Utilising Modern Methods of Construction, the development will incorporate a range of sustainable features including CHP fuelled by biomass. 

Debbie Aplin, Managing Director, Crest Nicholson Regeneration Ltd, comments:

“Working in conjunction with our partner MDL, we look forward to creating a highly sustainable new community for Greenwich. This site sits very well with our current portfolio of regeneration projects which continue to champion high quality design and sustainable development.”

Mike Youkee, Quintain’s Joint Project Director for the Greenwich Peninsula, comments:

“We are pleased to be working with Crest Nicholson on this project and this adds to the positive momentum which has built up in recent months on the Greenwich Peninsula.”

Duncan Innes, Regional Director for London and Thames Gateway at English Partnerships, the national regeneration agency and landowners at Greenwich Peninsula, said:

 “It is very rewarding to see Greenwich realising its potential, with multiple projects springing up across the Peninsula that meet the highest design and environmental standards. This exclusive venture between Crest Nicholson Plc and MDL Limited is testimony to the quality of development and spirit of partnership in the region.”

For more information visit: www.crestnicholson.com

ENDS

For more information please contact Marion Hardman or Oliver Williams

By e-mail: gp@fourcommunications.com

By telephone: 0870 420 3268

Notes to Editors

Crest Nicholson Regeneration Ltd. (CNR) is Crest Nicholson’s specialist urban regeneration and mixed-use development company. CNR provides one stop comprehensive mixed use development solutions and is committed to working in partnership with Public and Private sector vendors alike to regenerate the heart of our towns and cities.

The company is led by Group Divisional Director Chris Tinker, who over the last 10 years has been recognised as the driving force behind the acquisition, master planning and establishment of many of Crest Nicholson’s most successful regeneration projects. The division’s current £1.5bn portfolio of major projects includes schemes in many of the country’s leading towns and cities including Bath, Birmingham, Bristol, Camberley, Farnham, Hemel Hempstead, Portsmouth and Southampton.

About Greenwich Peninsula 
Over the next 15 years, the area will be transformed into a thriving new riverside community. Planning permission was issued in 2004 and will see the delivery of 10,000 new homes in distinct residential neighbourhoods (including 38% affordable housing), the creation of 24,000 long-term job opportunities within a central business district as well as shops, schools, community facilities and landscaped open spaces. Pedestrians and cyclists will have priority over the car and a relaxing, safe environment will be promoted.

This regeneration of 190 acres of Greenwich Peninsula is being led by Lend Lease and Quintain Estates and Development PLC, working together with English Partnerships.

About Lend Lease 
Founded in Australia in the 1950's and listed on the Australian Stock Exchange, Lend Lease is a leading real estate specialist, which creates, enhances and manages real estate assets around the world. 
In the UK its business is focused primarily on the delivery of large scale, retail led, mixed use schemes which lead to the regeneration of town centre and major urban sites.

Lend Lease provides cohesive in-house solutions for mixed-use developments, from planning and consultation, to development, funding, construction and asset management. In addition,Crosby Lend Lease, the group's residential development business can deliver affordable and private homes as part of integrated retail, commercial and residential developments.

About Quintain Estates and Development PLC

Quintain operates through three business segments - fund management, investment and urban regeneration. In addition to the Greenwich Peninsula development, Quintain has a c14m sq ft landbank of projects, of which c7m sq ft are consented. Quintain is listed on the London Stock Exchange and is a FTSE 250 company.

About English Partnerships and the wider Peninsula
English Partnerships is the government's national regeneration agency whose aim is to deliver high quality, sustainable growth in England. Since purchasing a development site covering 300 acres on Greenwich Peninsula in 1997, English Partnerships has invested over £225m in remediation and servicing, landscaping, enhancing the transport network and masterplanning the development. 
English Partnerships’ work on the Peninsula has included finding a long-term use for the Millennium Dome, soon to re-open as The O2.

Greenwich Peninsula is also home to the first Millennium Community – Greenwich Millennium Village – a sustainable, mixed-use neighbourhood being delivered to the south of Greenwich Peninsula that includes social, retail and leisure facilities.

Greenwich Peninsula - Key statistics
Within the next 15 years around 25,000 people will be living in Greenwich Peninsula and 24,000 people will work there.

Key facts at a glance:

• 10,000 new homes in distinct residential neighbourhoods
• 24,000 jobs created, plus an additional 5,000 jobs in construction
• A new business district for London - 3.5 million ft² of employment and office space - 343,600 m2
• The O2 - The largest indoor arena in London with a street of entertainment venues, bars, cafes and restaurants all under the roof of the former millennium dome
• 150 new shops and restaurants - 360,000 ft² of retail provision - 33,750 m2
• Extensive community and leisure facilities
• All buildings in will be designed and built to the highest current environmental standards(ie.EcoHomes Excellent and BREEAM)
• It will be London's first residential 'Low Emissions Zone', aimed at controlling car emissions (all private cars will need to be Euro-4 compliant by 2009)
• 48 acres of new and improved open spaces
• The same amount of riverfront as Waterloo to London Bridge - the largest of any single new development in London
• Excellent transport links put residents and workers just one stop from Canary Wharf, four stops from London Bridge and 20 minutes from the West End, and a regular turn and go 15 minutes service at QE II Pier on fast ferry commuter services with Thames Clippers operating from east (Woolwich) to west London