NORTHERN TRUST SUBMITS PLANS FOR MULTI-MILLION POUND REGENERATION SCHEME AT HYDE

17th June 2011

Northern Trust has announced that is has submitted plans to Tameside Metropolitan Borough Council for the redevelopment of the former BP/Castrol site in Hyde, Greater Manchester to provide a high quality residential development.

The proposals, which have been the subject of extensive discussions with the local planning authority, local councillors and local community, will regenerate the former heavy industrial site, and substantially enhance the quality and attractiveness of the area.

The aim is to remediate the site by removing the obtrusive and bad neighbour BP operations, provide a high quality residential development appropriate to the surrounding area and to compliment the ongoing regeneration projects in the vicinity, including the redevelopment of Hyde Technology School adjacent to the site. The outline planning application includes the provision for up to 100 houses including a mix of house types aimed at supporting the delivery of high quality housing at an affordable level within the Hyde area. The plans form part of the Company’s on-going initiatives in bringing forward over 3,000 homes through the planning system over the next few years.

The proposals also include ecological enhancements, on site landscaping with a landscape buffer alongside the railway, an acoustic fence along the railway line to minimise any noise disturbance from passing trains, parking and the provision and enhancement of footpaths within the site. In addition the adjoining access road (Shenton Street) will be brought up to adoptable standard and the transition to and from the site will be substantially improved.

Northern Trust purchased the BP/Castrol site last spring, following BP’s decision to close the site in 2007 and commence a rigorous de-commissioning process. Historically used for the storage and processing of oil, following the acquisition Northern Trust demolished the majority of the redundant buildings on site and undertook a detailed site investigation in order to identify potential development options.

The plans submitted are the result of an extensive consultation process and if approved will bring about the sustainable regeneration and effective re-use of this brownfield site, along with further economic benefits to the local area.

A spokesperson on behalf of Northern Trust commented “Northern Trust is committed to regeneration and the provision of a high quality residential development appropriate to the surrounding area. The proposed development will serve to build on the ongoing regeneration within the area, notably the redevelopment of Hyde Technology School adjacent to the site. Following Northern Trust’s investment at East Tame Business Park the proposals continue our commitment to regeneration and represent another significant investment to development within Hyde and the wider Tameside Borough.”

The planning application is expected to be determined before the end of the summer. Northern Trust is hopeful of a positive outcome to enable fulfilment of this major investment into the future of Hyde.

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Notes to Editors: Press Enquiries to Rosalyn Booth/Jonathan Livesey, Northern Trust, 01257 238555.