Heron International said it planned to build housing and commercial property worth £200m over the next seven years in South Wales. The company proposes to build 232,250 sq m (2.5m sq ft) of commercial space and 2,000 new homes. Work is expected to begin within two years. Completion is planned for 2004.
The group is understood to have significant backing from a group of overseas investors including Rupert Murdoch and Steven Green. Heron has bought an option on a 202.35ha (500 acre) site near Chepstow.
The move follows Heron’s announcement in December of four projects to provide 37,160 sq m (400,000 sq ft) of retail and office space and 271 apartments in London, Madrid, and Barcelona.
- Financial Times 13/02/97 page 26
- The Times 13/02/97 page 28
- The Independent 13/02/97 page 20
- The Guardian 13/02/97 page 19
- The Daily Telegraph 13/02/97 page 30
