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| Multiplex gains control of Castle House Developments  Australian construction giant Multiplex announced that it has acquired the shareholding of its Joint Venture Partner to gain sole control of Castle House Developments Limited (CHDL), the owner of one of the key redevelopment sites in central London. CHDL secured planning consent last year from the London Borough of Southwark for the creation of a landmark 43-storey residential tower. This £120 million Gross Development Value (GDV) project, comprising 408 apartments, will act as a catalyst for the long-awaited regeneration of the Elephant & Castle area of central London.Multiplex's £12.15 million acquisition of the shareholding held by Mr Andrew Colin, chairman of the Espalier Group, demonstrates its commitment to redevelopment of the site known locally as Castle House. It simultaneously leaves the Espalier Group free to concentrate on their core educational activities through its "INTO Universities" brand. In addition to Castle House, Multiplex is driving major development projects in High Wycombe and Newcastle City Centre. Further expansion is planned in 2007 across the company's Developments, Funds Management and Facilities Management divisions. write your comments about the article :: © 2007 Construction News :: home page |