Former mine redevelopment gets green light - property development finance

19 August 2008

UK Coal has been granted planning permission for the redevelopment of a former coal mine in Yorkshire.

It has had the green light from Wakefield council to build 917 homes and create a business park on the 300-acre site of the former Prince of Wales colliery near Pontefract in West Yorkshire.

The plan is intended to create 1,000 new jobs at the site, where coal was last mined in 2002.

UK Coal's chief executive Jon Lloyd called the decision "a major milestone in the regeneration of an area," adding: "We look forward to turning the blueprint of a new future into a reality."

In other property development finance news, an apartment development on a former brewery site in Sheffield has been bought for £19 million, the Business Desk reports.

Clients of the Danish company Danmerc have picked up the former Exchange Brewery site, called J1 Riverside Exchange, from developer Wilson Bowen.