TWOD Taylor Woodrow

RNS No 2027a
TAYLOR WOODROW PLC
30th March 1998

          TAYLOR WOODROW AND HUTCHISON WHAMPOA FORM 
            CENTRAL LONDON HOUSING JOINT VENTURE

Taylor Woodrow and the Hutchison Whampoa Properties Group, a
major property developer based in Hong Kong, have formed a 50:50
joint venture to develop a substantial new residential scheme in
Battersea on the River Thames, opposite Cheyne Walk. 

The Montevetro building designed by world-renowned architect
Richard Rogers will consist of 103 luxury apartments when
completed. The joint venture has engaged Taylor Woodrow as
development and project manager. 

To date over 50 apartments have sold off-plan to buyers from the
UK, Europe and Asia. Construction has recently started and the
building is due for completion in the second half of 1999. 

Colin Parsons, Taylor Woodrow chairman and chief executive said,
'We are delighted to have a major, high-quality company such as
Hutchison Whampoa Properties as our joint venture partner on
this project. Montevetro is going to be one of the landmark
buildings in London for the Millennium and it is continuing to
generate considerable buyer interest from around the world.

'With Hutchison on board for this scheme we can use group
resources more effectively and invest in other good housing
opportunities in Central London as they appear.'

Raymond Chow,  managing director of  Hutchison Whampoa
Properties said, 'We have been keen to expand our investment in
the Central London residential development market with an
experienced partner who has a proven track record. The
Montevetro project meets these criteria very well.'

Note to Editors: The Montevetro project is being managed by
Taylor Woodrow Capital Developments Ltd with Hutchison Whampoa
Properties as its joint venture partner.  
 

Media enquiries: 
Matthew Moth/Tom MacQuillan  
Taylor Woodrow plc - 0181 575 4175/4155

Sales enquiries: 
Taylor Woodrow Capital Developments
Tel number: 0171 801 0200

END

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