Tuesday, August 23, 2011

News: UK Coal set to bring forward Waverley development


UK Coal are bringing forward the first phase of development at the huge Waverley new community in Rotherham.

The £100m regeneration project on the site of the former Orgreave colliery is the biggest brownfield site development in South Yorkshire and covers 741 acres, an area bigger than Sheffield city centre.

Outline planning permission was granted in 2010 for a self-supporting and sustainable community of 3,800 homes with community facilities such as two primary schools, a medical centre, and sports pitches. A transport interchange and a park & ride is also planned.

In a trading update, UK Coal said that: "Our major development schemes at Waverley and Prince of Wales are attracting interest from a number of developers and housebuilders and we are bringing forward the first phases of development."

In April, the company whose property arm, Harworth Estates is based on the Advanced Manufacturing Park at Waverley in Rotherham, reported that subject to market conditions, delivery of the Waverley project will commence through a series of phased sales with national house builders.

Recovery plans for UK Coal were put in place in May after they reported a pre-tax loss of £124.6m after a "further year of poor operational performance."

The trading update for the first half of 2011 encouraged the UK Coal board as they posted its first profit in four years. Output rose from 2.7m tonnes to 4.1m tonnes helping to boost profits to £35.2m.

Jonson Cox, chairman of UK Coal, said: "This set of results marks my first six months as Chairman. I am pleased to report on reasonable progress.

"Our focus over the next period is to continue the work towards securing a future which is in the best interests of all stakeholders. Delivering our Strategic Recovery Plan is necessary to ensure the viability of the business. This plan requires the support and cooperation of the entire workforce; an essential element of the group's future."

UK Coal website
Waverley website

Images: waverleycommunity.org


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