English Partnerships - Kent, Chatham Maritime

Date: 09 Jan 1998

English Partnerships and Natwest today announced they have successfully completed negotiations on a major new development proposal at English Partnerships' flagship development at Chatham Maritime in Kent.

English Partnerships has sold 1.1 hectares (2.8 acres) of land to NatWest Group Property under a 150 year peppercorn lease in order for the Bank to construct a major new office complex. The move forms a key part of NatWest's restructuring programme for their national retail banking operations and early forecasts are that employment opportunities could be created for up to an estimated 400 full and part time staff as a result. The project is due for completion in October 1998.

Plans for the site include the development of a three storey building providing 5,568 m² (60,000 ft²) of office space, for use as a main administrative office base, together with 265 car parking spaces. New jobs will be created in areas of telebanking and account management.

The site adjoins the entrance to the new Medway Tunnel and the route of the Medway

Towns Northern Relief Road, due for completion in 1999, bringing Chatham

Maritime within 15 minutes of the M25 and 2 miles from Junction 1 of the M2.

Mike Newens, Head of NatWest Group Property, said: "Chatham Maritime is a superb location for us as it is strategically located - benefiting from excellent road and rail links - whilst also providing an attractive waterside environment. We decided to build the centre ourselves after we had been unable to find a suitable building for our requirements elsewhere in the area and working together with English Partnerships has enabled us to come up with the perfect solution."

Stephen Pritchard of BBP Property Consultants, who manage Chatham Maritime on behalf of English Partnerships, commented: "I am delighted that NatWest has agreed to locate a significant part of its business operations at Chatham Maritime. This news, together with the 2000 people who already work for a dozen blue chip companies now located here, confirms Chatham Maritime as a premier business location in the South East, enjoying access to one of Europe's largest catchment areas."

Savills acted on behalf of English Partnerships and Grimleys acted on behalf of NatWest Group Property in the transaction.

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