REG - Town Centre Secs. - Sale of part of Whitehall Riverside, Leeds

Town Centre SecuritiesAnnouncement

14/04/2023 07:00

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RNS Number : 1866W  Town Centre Securities PLC  14 April 2023

14 April 2023

Town Centre Securities PLC

(The 'Group' or the 'Company')

Sale of part of Whitehall Riverside, Leeds

Town Centre Securities PLC, the Leeds, Manchester, Glasgow and London property
investment, development, car park and hotel operator, today announces
completion of the sale of part of its development site at Whitehall Riverside,
Leeds.

The Company is pleased to announce that on 12 April 2023 it completed on the
sale of the residential element of the new masterplan at Whitehall Riverside,
Leeds to the build-to-rent residential developer, Glenbrook for £13.0m. The
book value of this element of the Company's Whitehall Riverside development
site at 31 December 2022 was £10.0m.

£10.0m of the proceeds from the sale will be used to repay bank borrowings
with the balance retained for working capital purposes, to bring forward
further development on the remainder of the site and to fund further
opportunistic investments.

ENDS

For further information, please contact:

 

 Town Centre Securities PLC                        www.tcs-plc.co.uk (http://www.tcs-plc.co.uk) / @TCS PLC
 Edward Ziff, Chairman and Chief Executive         0113 222 1234

 Stewart MacNeill, Group Finance Director

 MHP Group                                         020 3128 8567
 Reg Hoare / Matthew Taylor                        tcs@mhpgroup.com

 Liberum                                           www.liberum.com (http://www.liberum.com)
 Jamie Richards / Lauren Kettle / Nikhil Varghese  020 3100 2123

 Peel Hunt                                         www.peelhunt.com (http://www.peelhunt.com)
 Carl Gough / Henry Nicholls                       020 3597 8673 / 8640

 

 

Town Centre Securities PLC (TCS) is a Leeds based property investor, car park
and hotel operator with assets of over £300m. With more than 60 years'
experience, a commitment to sustainable development and a reputation for
quality and innovation, TCS creates mixed use developments close to transport
hubs in targeted major regional cities across the UK.

For more information visit www.tcs-plc.co.uk (http://www.tcs-plc.co.uk)

 

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