Development at Elwick Place, Ashford, Kent

A development agreement ("DA") was originally entered into in 2010 between the South East England Development Agency ("SEEDA") and Stanhope PLC and concerned the re-development, in phases, of a site in the centre of Ashford known as Elwick Place according to a masterplan to be agreed between the parties. In 2015 the Council acquired the site and the rights and obligations formerly vested in SEEDA under the DA. The Phases are now as follows: Phase 1 (cinema, hotel, restaurants, retail units and car park), Phase 2 (200 residential flats) and Phase 3 (yet to be agreed). The parties have now agreed certain changes to the DA. This notice concerns those changes.