Terrace Hill Group - Mixed-Use Development - Guildford, Queen Elizabeth Park

Date: 19 May 2003

Terrace Hill Group plc has started construction of its £18 million Queen Elizabeth Park mixed-use development in Guildford.

The scheme comprises a Budgens foodstore of 1,040 sq m (11,200 sq ft), a 2,369 sq m (25,500 sq ft) Esporta health and fitness club and a 604 sq m (6,500 sq ft) Academy Nursery. There will also be 3,948 sq m (42,500 sq ft) of freehold offices available in a number of units.

A first phase of 1,719 sq m (18,500 sq ft) in 13 office units is being built on a speculative basis and these will be available to buy towards the end of this year. The other elements of the scheme will be completed simultaneously.

Nigel Wakefield, a development executive of Terrace Hill, says: "This new development will greatly improve the retail and leisure amenities available in the northern quarter of Guildford."

Gascoignes and Hurst Warne are acting on the office scheme whilst Romans Commercial advised on the site purchase. FPDSavills acted on the leisure element.

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