New plans from UK Coal signal massive future growth for property development arm

UK Coal has submitted plans for South Yorkshire's largest ever brownfield development to add to its major projects in this part of England.

In doing so it is expanding its property portfolio massively and by gaining planning permission for redevelopments at former coal mines, the company's portfolio has risen in value to £411 million, from £344 million in 2006.

The latest project from the mining, property and energy company is for a 9,000 strong community at the former coke works and mining site near Catliffe, midway between Sheffield and Rotherham, which will include 4,000 homes.

The plans also include shops, restaurants, schools, green leisure spaces, woodland and lakes, and a sustainable transport system.

'It will create a magnificent small new town of highly sustainable environmentally sound and aspirational housing alongside a mix of commercial development that could over the period, produce in excess of 10,000 jobs,' a company spokesman said.

'The proposal will transform this area with a mainly industrial past to a modern 21st century development that will benefit thousands of local people in terms of providing new affordable housing, employment opportunities, schools and leisure facilities,' he added.

Through its property development company, Haworth Estates, the company is proposing to redevelop the 741 acre site over 20 years. Haworth Estates' portfolio is expected to be worth £1 billion in 2013, compared to £800 million in 2006.

It is the third major planning application in the region for UK Coal. It has already received consent for the Advanced Manufacturing Park and Highfield Commercial at a 100 acre site.

And it is to develop 917 homes and a business park on the 300 acre former Prince of Wales Colliery site at Pontefract in West Yorkshire. Work is due to start at the end of this year with the first homes completed in 2009.

This latest application shows confidence in the future of building in the UK at a time when many developers are suffering from the current credit crunch.