LXB Retail's Rushden Lakes development referred to Sajid Javid

9th Feb 2017 10:17

(ShareCast News) - Real estate investment property LXB Retail Properties said on Thursday that the Planning Committee of East Northamptonshire Council has voted unanimously to approve its application for a revised and enhanced development at Rushden Lakes.Following the approval and owing to the scale of the proposed development, the matter will now be referred to the Secretary of State for Communities and Local Government, Sajid Javid, to consider whether to "call in" the application. If Javid does not wish to review the decision, the planning permission will be issued upon the signing of a section 106 agreement. The company also confirmed that the sale of Neats Court Retail Park, announced on 23 December, completed as scheduled on 25 January. The board is due to meet next month following which a further announcement will be made on progress in delivering the mandate to realise cash from the group's portfolio of investments.At 1020 GMT, the shares were up 10.6% to 41.75p.