MEDIA RELEASE

8 March 2007

FOR IMMEDIATE RELEASE

First Base appointed to develop Trenchard House in Soho

First Base, the residential-led urban regeneration developer, has been appointed by English Partnerships, the national regeneration agency, as preferred developer for Trenchard House. The scheme is set to regenerate the site of a former Hostel off Broadwick Street in Soho.

The proposed mixed-use, mixed-tenure development, includes key worker and supported housing, private residential homes, retail and potentially educational space. In partnership, First Base will be working alongside London housing association, Peabody Trust, to deliver the scheme.

The development will assist the regeneration of the Broadwick Street area by bringing a currently redundant site back into use. The plans for Trenchard House will be designed to ensure the scheme is integrated into its surroundings and will be a sympathetic and sustainable development for this important Soho site.

Elliot Lipton, Managing Director of First Base said, "We are extremely proud to continue our relationship with English Partnerships. I believe that together with The Peabody Trust, we can create one of the best mixed use developments in London, ensuring the long-term success of the scheme and we look forward to working closely with the community to ensure that the scheme delivers maximum benefits for local people. This is an important next step in our vision to build better quality, sustainable and mixed-use, mixed-tenure communities."

Steve Oakes, Director for English Partnerships said, "English Partnerships' agreement with First Base will ensure the delivery of affordable homes for key workers in the heart of London's West End. We are pleased to be working again with First Base, who will bring to the scheme at Trenchard House, the experience gained delivering the London-Wide Initiative key worker scheme at Adelaide Wharf."

Daniel Kaye, Assistant Director at Peabody Trust said, "We are looking forward to working in partnership with First Base, English Partnerships and Westminster City Council to provide much needed key worker and supported homes in London which will be of great benefit to the local community."

In delivering Trenchard House, First Base will work in partnership with English Partnerships and Peabody Trust; who will be responsible for the long-term management of the supported and affordable housing in the scheme.

For more information and images contact:

Catherine Greenwood / Jessica Gooch

Lexis PR on behalf of First Base

020 7908 6488 / 020 7908 6447

cgreenwood@lexispr.com / jgooch@lexispr.com

Catherine Snow

English Partnerships

020 7531 2465

Catherinesnow@englishpartnerships.co.uk

Notes to editors

English Partnerships is the government's national regeneration agency delivering high quality, sustainable growth in England. We do this by developing our portfolio of strategic projects and acting as the government's advisor on brownfield land. We also ensure that surplus public sector assets are used to support wider government objectives, especially those contained in the Sustainable Communities Plan. English Partnerships helps create communities where people can afford to live and want to live. Information on projects and programmes can be found at www.englishpartnerships.co.uk

English Partnerships and the Housing Corporation are working with the Department for Communities and Local Government to establish the proposed new national housing and regeneration agency, Communities England.

The London-Wide Initiative pilot scheme was launched to fast-track more affordable homes in Greater London. The scheme will focus on a portfolio of sites, selected as a test-bed for introducing a range of new ideas for the delivery of homes. The pilot scheme will deliver up to 4,500 homes over the next five years of which around 1,500 will be affordable homes for key workers. Three development partners have been selected to work in partnership with English Partnerships to deliver homes through the London-Wide Initiative; First Base, Key London Alliance and a consortium led by Countryside Properties plc.

First Base is the residential-led urban regeneration developer that creates stylish homes in great urban spaces.

It transforms the way that properties are built - using best practice modern construction methods that keep costs low yet quality high, embrace sustainability and ensures value for money.
It transforms the way that communities are formed - with a mix of tenures, a range of homes, a commitment to high quality management and services that make friends of neighbours.
And it transforms the way that style meets function - with attractive designs, inside and out, that do more than simply look good.

Designed by renowned architects, built by skilled craftspeople, managed by experts, First Base homes are quality, sustainable properties for purchase or rental.

First Base was included in the 2006 RIBA ---Top 50 Clients--- survey for its innovative approach to quality design, using renowned architects including AHMM, Richard Rogers Partnerships, Glenn Howells and Fletcher Priest for a range of projects across the capital.

First Base is currently involved in a range of projects that will deliver mixed tenure housing in London and the south east:

selected as a Development and Management partner with English Partnerships as part of the London-Wide Initiative First Base is working on five sites which will deliver over 1,500 homes, in London
working with Blackstone / Generation in a development and construction management role on the Nido Kings Cross regeneration project in Kings Cross to deliver a mixed-use scheme comprising predominantly affordable student accommodation to over 850 students.
selected as 1 of the 4 private sector organisations to participate in the Housing Corporations New Partnerships in Affordable Housing Pilot. The scheme is intended to create a wider market for the delivery of mixed tenure homes as well as develop a new competitive framework for the Housing Corporation's investment programme.
selected as a development and delivery partner to East Thames Group to implement their ambitious housing plans in London.
in partnership with Lend Lease, First Base have been selected by the London Borough of Newham for the regeneration of Canning Town and Custom House, and are one of two short listed for the GBP1.5bn regeneration of Elephant and Castle
selected as part of the Lend Lease Consortium for the development of Stratford City including the Olympic Village.

For further information please visit www.firstbase.com

Peabody Trust is one of London's largest and oldest housing associations, as well as being a charity and community regeneration agency. Founded by George Peabody, an American philanthropist, in 1862, the Peabody Trust Group now owns or manages over 19,500 properties across 30 London boroughs, housing nearly 50,000 people.

For further information please visit www.peabody.org.uk