Business
New site purchases
New site purchases.
About this update from Artisanal Spirits Company Plc
[{"type":"text","content":"\n Artisan (UK) PLC\n22 March 2006\n\n\nnews release\n\nFor immediate release: 22 March 2006\n\n\n\n Artisan (UK) plc\n\n New Site Purchases\n\n\nArtisan (UK) plc, the residential house and commercial business park developer,\nis pleased to announce the following recent land acquisitions.\n\nA one acre site, adjacent to our existing business park at St Neots in\nCambridgeshire has been purchased by Artisan (UK) Developments. Although full\nplanning permission for office units has been granted, we have applied for an\nalteration of the planning permission to provide a continuation of the product\nwe have sold successfully on the existing site. This process is well advanced.\nEarly interest from customers has been positive to the extent that heads of\nterms have already been agreed for the forward sale of the first office unit.\nPotentially the site could accommodate eight units.\n\nIn addition the acquisition of a 1.5 acre site in St Ives Cambridgeshire with\noutline planning permission for industrial units has been completed. Again the\napplication towards full planning permission is well advanced as is potential\noccupier interest in the site. There are few if any competing products locally\nfor those that are to be developed on this site.\n\nRippon Homes has also exchanged contracts on the acquisition of a 5.7 acre site\nat Lincoln for residential development. The site already has the benefit of\noutline planning permission and we expect to be granted detailed planning\npermission in the short term, prior to completion of the purchase. This site\nwill act as a key site for the Lincolnshire area and we are already assessing\nother smaller sites that will be effective satellites to the acquired site.\n\nChris Musselle, Chief Executive of Artisan commented:\n\n' Part of our corporate strategy is to refresh and expand our land bank in order\nto take advantage of positive local conditions across both our house building\nand commercial development businesses. To this end we recently raised funds\nthrough a placing to support the expected increase in our debt funding\nfacility.'\n\n\n\nArtisan (UK) plc: 01480 436666\nChris Musselle Chief Executive [email protected]\n\n\n\nSeymour Pierce 020 7107 8000\nSarah Wharry Nominated advisers\n\n\n\n\nBankside Consultants 020 7367 8888 /\n 07703 167065\nSimon Rothschild Financial PR advi...