Artisan (UK) PLC
27 October 2005
Artisan (UK) plc
Residential Land Purchase
Rippon, the residential housing subsidiary of Artisan (UK) plc, announces it has
completed arrangements for the purchase of a major site in Mansfield. Work on
Phase I will be commencing immediately. The purchase contract provides for the
deferred completion of Phase II during 2006, providing a total site with
planning permission for a minimum of 76 units. The existing planning permission
allows for 46 houses and 30 apartments. Rippon will be utilising its site
planning and design expertise to enhance the number of units.
This significant site of 3.4 acres, which has the benefit of detailed planning
permission, is close to the centre of Mansfield, in Rippon's heartland and will
result in the regeneration of this old industrial site. The relocation of the
business premises on the outskirts of Mansfield will ensure the employment of
the vendor's workforce continues.
Rippon is commencing development on this site immediately with initial sales
expected in 2006.
Chris Musselle, Chief Executive of Artisan (UK) plc said 'We are excited by the
acquisition of this strategic site demonstrating Artisan's promised commitment
to invest funds in the Rippon Homes land bank'.
John Jones as Managing Director of Rippon Homes said 'We plan to follow this
investment with further land purchases for both larger strategic sites such as
this and smaller niche sites'.
Enquiries to:
Artisan (UK) plc: 01480 436666
Chris Musselle Chief Executive email@artisan-plc.co.uk
Rippon Homes Limited 01623 659000
John Jones Managing Director
Seymour Pierce Nominated advisers 020 7107 8000
Sarah Wharry
Bankside Consultants Financial PR advisers 020 7367 8888
Simon Rothschild 07703 167065
Company website: www.artisan-plc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange