LONDON (AFX) – PSA Peugeot Citroen has announced that contracts have been exchanged for the sale of its 140-acre Ryton site to Trenport Investments Limited.
The proposals for this major purchase will include early usage of the premises for warehousing and distribution, providing significant employment opportunities, PSA Peugeot Citroen said.
Trenport said it intended to progress as rapidly as possible with the planning authorities and agencies in the immediate Coventry and Rugby areas and within the Midlands to develop plans for the comprehensive redevelopment of the regionally strategic site.
‘Our immediate aim is to develop opportunities for several hundred jobs and to achieve diverse business opportunities in the future that will bring more employment and wide-ranging economic benefits to the area,’ said MD Tony Parson. ‘We expect to commence this process immediately upon completion of the purchase on 16 April.’
London-based Trenport Investments Limited, which owns more than 2,000 acres of land in Kent, is part of Ellerman Investments Limited, a major property group with interests throughout the UK.
Further information will be released upon sale completion, the company said.
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