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Oakdene plots £150m scheme

Developer Oakdene Homes is planning a major £150 million mixed use development in East Sussex after buying 8.8 ha of land from port operator Sea Containers.
Oakdene has acquired three sites in Newhaven - Newhaven Marina, West Quay and Railway Quay - for £11.25 million.

Planning permission has already been granted for 120 apartments and six shops, with further planning applications in the pipeline.

It is expected that planning permission will be granted for up to 640

residential units and 30,000 square feet of leisure and recreational facilities.

Apartments from the first phase of development will commence building in January 2006 and will be available for occupation early in 2007.

Oakdene chief executive Carl Turpin said: 'We believe this represents the largest project development ever

undertaken in Newhaven. It will make a major contribution to our revenues and

profits and will ensure a strong, highly profitable recurring contribution to

our income streams from 2007 through to at least 2012.'

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