VCP Victoria Plc

TIDMVCP

RNS Number : 5007Y

Victoria PLC

01 March 2012

"International designers and manufacturers of innovative quality floorcoverings"

Issued by Citigate Dewe Rogerson

Date: Thursday 1 March 2012 Immediate Release

Victoria plc

("Victoria" or the "Company")

Planning Consent Granted

At the time of the Group's Half-year results announced last November, the Board advised that it was continuing its endeavour to seek a 'change of use' and planning consent for the Group's sports ground in Worcestershire with the expectation, in due course, of receiving detailed planning consent on the site.

The Company is therefore pleased to report to shareholders that,Wyre Forest District Council has today issued a Planning certificate granting permission for the Company to develop the redundant 6.25-acre site in Kidderminster, Worcestershire.

The planning consent allows for the construction of a bowling 'Centre of Excellence', a public house/restaurant and a budget hotel.

The current book value for the site as at the last independent valuation date of April 2004 is GBP80,000. With the change of use, the Company plans to seek offers in excess of GBP1 million for the development of the site.

.

 
 
  Enquiries to: 
  Victoria PLC           Citigate Dewe      Arden Partners plc 
                         Rogerson 
 Office: +44 (0)        Mobile: +44        Office: +44 (0) 121 
  1562 749300            (0) 7785 703523    423 8900 
 Alan Bullock, Group    Office: +44        Steve Douglas, Corporate 
  Managing Director      (0) 121 362        Finance Director 
                         4035 
 Or                     Fiona Tooley 
 Ian Davies, Group 
  Finance Director 
 www.victoriaplc.com 
 LSE; Premium Listing 
 Ticker: VCP.L 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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