PRESS RELEASE
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NEW AGREEMENTS
- MoU Signed with Sony United Kingdom Ltd and Venue Solutions
- Appointed to advise on two major themed leisure parks in the UK
Oak Holdings Plc, the AIM listed property development and consultancy group, has signed a Memorandum of Understanding (MoU) with Sony United Kingdom Ltd (‘Sony') and Venue Solutions to provide a variety of indoor entertainment facilities at the YES! Project in South Yorkshire. Additionally, the Company has been appointed to advise on two major themed leisure parks in the UK.
Sony and its systems integrator, Venue Solutions, a specialist in venue management technologies, will provide a state of the art innovative indoor entertainment centre as well as supply numerous other brand and technology solutions at the £270 million YES! Project.
Oak Chief Executive Steve Lewis said: “We are delighted to be working with both Sony and Venue Solutions whose proposed participation marks an important milestone in the development of this exciting venture. With Sony's global reputation for leading edge technology and excellence and Venue Solutions sophisticated venue management software, the opportunities for YES! are considerable.”
Dominic Berger, managing director of Venue Solutions said: “The YES! Project provides us with a unique opportunity to showcase our technologies. We are already working with Sony on the Brighton International Arena scheme, and see YES! as a further strategic positioning of our solution offering. We look forward to working with Oak on this very exciting undertaking.”
Oak was awarded a preferred developer agreement for the YES! Project by Rotherham Metropolitan Borough Council and has already entered into MoUs with a number of other potential anchor tenants including Baydrive Group, for a driving range using computer chip technology; and Venture Xtreme (UK), for an extreme sports centre. Following the submission of a second outline planning application in January, the directors anticipate consent will be obtained by the end of the year and hope that development will be completed early 2009.
Additionally, the Company has been appointed to advise on two large projects aimed at highlighting the country's heritage and craft skills within the framework of a tourist attraction. Shakespeare's World, the first scheme near Banbury, Oxon, will be a celebration of the life and culture of William Shakespeare, while the second, Outlaw's Kingdom, based near Mansfield, will focus on the life and times of Robin Hood.
Oak's consultancy division is principally targeted at overseas based entrepreneurs keen to optimise their property assets in the UK while maintaining a low profile. The services it offers include project consultancy and development appraisal, risk analysis, advice on valuation procurement, financial engineering and insurance. The Company is actively developing its consultancy division and is in negotiations with regards to further contracts.
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