11 Sites Acquired UnderOption

    RNS Number : 1359U
  Wren Homes Group PLC
  12 May 2008
   








12 May 2008



                              Wren Homes Group Plc

                       ("Wren" or "the Company") (WHG/L)


               "Eleven 'Extra Care' Sites Acquired Under Option,

                        Subject to Planning Permission"





Wren Homes Group Plc, the AIM listed retirement home and "Extra Care" specialist
developer and provider of services to the independent elderly, today announces
that it has acquired options over eleven additional sites suitable for Extra
Care Schemes, ranging from 50 to 75 Units at each scheme, for a nominal
consideration.


This brings the total number of "ExtraCare" sites that Wren is interested in to
twelve, including the Warlingham, Surrey site. Once planning permission has been
received, Wren is free to exercise its right to buy outright the eleven sites.


This development follows on from Wren's earlier announcement on 28 April 2008
that detailed planning permission for the Company's first 'Extra Care' housing
scheme had been granted for it to develop a circa one and a half acre site in
Warlingham, comprising 54, one and two bedroom units.


Wren's move into this second generation of retirement living, namely "Extra
Care", is a step closer to the provision of a wider range of services to support
the independent elderly, so that they may continue to live for longer,
comfortably and secure, in their own homes.


The additional sites in the South East of England for which Wren has already
applied for planning consent are outlined below:-


   Chipstead Surrey-69 Extra Care Units
   Epsom-37 Extra Care Units
   Oxted-55 Extra Care Units
   Wallington-54 Extra Care Units
   Crowborough-52 Extra Care Units


The other six sites, also in the South East and acquired under option, are
located in: Tring, Haisham, Burpham, Kings Langley, Hilldenborough and Tonbridge
and are all Extra Care retirement housing schemes. On these sites, Wren is
carrying out the necessary work in order to apply for planning. The Company
historically has a success ratio on planning applications of 70% or better.



Commenting, Paul Treadaway, CEO Wren Homes said:

"This continued roll-out of Extra Care Schemes and our vision of delivering and
leading the introduction of this new innovative model into the retirement home
sector is particularly exciting and satisfying. Not only is it a sector that is
significantly underdeveloped, but it is one that offers significant growth
potential alongside good defensive qualities".


ENDS



Enquiries:

Wren Homes Group plc
Paul Treadaway, Managing Director    Tel: 01372 742 244
www.wrenhomesplc.co.uk

Shore Capital
Alex Borrelli                        Tel: 020 7408 4090

Adventis Financial PR
Tarquin Edwards                      Tel: 020 7034 4758 / 07879 458 364
Chris Steele                         Tel: 020 7034 4759 / 07979 604 
687This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
ACQEAKSNEAEPEFE

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