News Column

Mace partners with Doric Properties to deliver regeneration project for Botley

June 18, 2014



ENP Newswire - 18 June 2014

Release date- 17062014 - Mace has taken a 50% stake in Doric Properties to form a new partnership to deliver the comprehensive regeneration of Botley district centre in Oxfordshire.

The GBP100 million+ regeneration proposals will see the redevelopment of the existing 1960s shopping precinct with a modern centre designed to serve the next generation of residents. The proposals include a supermarket, a small Cine World cinema, a hotel, restaurants and cafes, 525 student bedrooms, community spaces, and a Baptist Church - all arranged around a new public pedestrianized space and provision for a large car park under a podium.

The decision to join forces highlights the partnership's commitment to delivering a high quality regeneration, which will transform the area and create several hundred new jobs. The partnership combines Mace's expertise as an investor, international consultancy and contractor, as well as its local experience in the area, with Doric's exciting vision for the future of Botley. Under the terms of the deal, Mace has become a joint venture partner and shareholder in Doric Properties.

Mace's strong track record in Oxford started with its appointment by University of Oxford in 2002. Since then Mace has delivered complex schemes in sensitive locations, including Oxfordshire County Council's Central Offices, the Said Business School, the New Bodleian Library and the Ashmolean Museum.

Mace has also been involved in the delivery of a number of town centre regeneration projects across the country ranging from strategic advice to construction services. In parallel Mace have been involved in the delivery of over 20,000 student beds as developer, project manager and contractor and has established a wealth of experience and is recognised as a market leader in the sector.

By way of example of their student capability Mace has recently completed and fully let a 346 bed, high quality, direct-let student campus scheme in Aldgate, London, and is in the process of completing an equally high quality 320 unit scheme for Edinburgh University. Mace's involvement in the Botley scheme will ensure that the proposed student accommodation will be delivered to the best in class standards in both development and long term management.

Stephen Pycroft, Executive Chairman of Mace, said: 'We've always taken a partnership approach and we're absolutely delighted to have partnered with Doric Properties to help deliver their proposals which will revitalise Botley.'

David Grover the COO of Mace Investments said: 'The proposals will create a fantastic new district centre, bringing together a large supermarket, leisure opportunities and community functions to serve the west of Oxford community.

'Mace has a strong track record in Oxford stemming back to our work with the University of Oxford and we are keen to extend our success by bringing our investment, development consultancy and construction expertise to Doric's proposals. We're already working closely with Doric's team on the details of the Environmental Impact Assessment and the construction and phasing and we believe that we have already made some very positive progress and are confident that we can bring forward further enhancements.'

Simon Hillcox, Joint Owner of Doric Properties, said: 'Having seen the breadth and depth of their experience in the Oxford area it was an extremely easy decision to partner with Mace. Their track record of delivering complex schemes on sensitive sites in Oxford, combined with their knowledge and understanding of the student accommodation market, and construction expertise, is exemplary and a strong fit with our proposals.

'We firmly believe that our partnership agreement brings us a step closer to delivering the revitalization of Botley as part of proposals which deliver a commercially viable and socially dynamic scheme. We're going to provide a whole range of new and improved community facilities functioning alongside a renewed shopping environment.'

David Buckle, Chief Executive of Vale of White Horse District Council, said: 'We are delighted that a company of the strength and track record of Mace, both internationally and particularly in Oxford, and which is working on prestigious projects such as The Ashmolean Museum and The Bodleian Library has chosen to partner with Doric. The partnership will certainly help to ensure the long term success and deliverability of this vital regeneration project for Botley.'

Plans for the redevelopment of Botley were submitted to Vale of White Horse District Council in December 2013 and are due to be considered by Vale's Planning Committee in the next few months.

Media Contact:

Shirin Homawala

Manager

Tel: +44 (0)7881 091 396

Email: Shirin.homawala@macegroup.com


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: ENP Newswire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters