Business
Announcement Re Joint Venture
Announcement Re Joint Venture.
About this update from Harworth Group Plc
[{"type":"text","content":"\n UK Coal PLC\n28 November 2007\n\n28 November 2007\n\n\n\n UK COAL PLC ('UK COAL')\n HELICAL BAR PLC ('Helical Bar' or 'The Company')\n\n UK COAL PLC AND HELICAL BAR PLC ANNOUNCE JOINT VENTURE PARTNERSHIP\n\nUK COAL plc, the UK's biggest producer of coal and the developer of one of\nBritain's largest brownfield property estates, and Helical Bar plc announce\ntoday a 50/50 joint venture partnership to develop a 660,000 sq ft government\noffice campus at Waverley, Rotherham, Sheffield, on the 300 hectare site of a\nformer coal mine owned by UK COAL. The scheme is estimated to cost some £140\nmillion over a five year development period.\n\nUK COAL, through its property division Harworth Estates, and Helical Bar,\nthrough its subsidiary Helical Governetz Ltd, are to create a purpose built\ncampus to fit the needs of government organisations and private sector suppliers\nrelocating as a result of the findings of the Lyons, Gershon and Varney reports,\nall of which call for fundamental changes in the way in which the Public Sector\noperates and is housed in the future.\n\nThis 50/50 joint venture is part of a larger plan by UK COAL to create a new\nsustainable mixed-use community in the area which will provide 4,000 homes, a\nbusiness park, a range of community facilities, a park and ride and a country\npark. It is anticipated that up to 6,000 new jobs will be created as a result\nof UK COAL's wider plans for the regeneration of the area.\n\nPlanning work can now move forward as marketing within the public sector begins,\nwith a view to construction commencing in Spring 2009, for delivery in Autumn\n2010.\n\nMike Slade, Chief Executive of Helical Bar, commented:\n\n'It is clear from the pre-budget report that savings in the government estate\nare now paramount. This partnership with UK COAL is, therefore, an important\nstep forward in our drive to provide accommodation to meet the Government's\nevolving occupational requirements across the UK and follows on from our similar\ngovernment campus project at Newport West in South Wales in partnership with\nWelsh Assembly Government. We are delighted to be working with UK COAL to\nfulfil the needs of the 21st century public sector estate, while also helping to\nregenerate the largest single brownfield development site in South Yorkshire. In\nline with Helical's proven strategy, we will d...