Regulatory News Announcement - Update on Ram Brewery

1 July 2010

Minerva plc

 Update on Ram Brewery

On 4 December 2008 Minerva plc announced that the Planning Committee of Wandsworth Council had resolved to grant planning consent for the development of its Ram Brewery and Buckhold Road schemes, along with listed building and conservation area consents of the Ram Brewery scheme.  However, in February 2009, the Secretary of State decided to call in the planning application for a local inquiry, which was held in November and December 2009.

Today the Secretary of State has announced the refusal of planning consent for the Ram Brewery application.  The key reason being in relation to the issue of the tall buildings on the northern edge of the site and their impact.  At the same time it was found that for the most part, the development would successfully integrate with the town centre and would contribute very significantly to regeneration.  For the Cockpen House (Buckhold Road) application he is minded to grant consent, however his final decision is deferred to enable a revised S106 agreement to be submitted.

Salmaan Hasan, Chief Executive of Minerva plc, said:

"We are naturally disappointed by the Secretary of State's decision and remain committed to our Ram Brewery and Buckhold Road sites which represent a rare opportunity to regenerate Wandsworth Town Centre.  However, the Secretary of State has given a positive response to many aspects of the scheme and given guidance as to what is likely to be acceptable.  We will now consider the information and guidance in the Secretary of State's response and review our options as we look to move the scheme forward."

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All Enquiries:

Minerva

Salmaan Hasan, Chief Executive                                               020 7535 1000

Mark Cherry, Investment Director

Brunswick:

Simon Sporborg / Oliver Hughes                                               020 7404 5959