REG - Trafalgar PropertyGp - Trading Update

Trafalgar PropertyAnnouncement

26/07/2023 14:00

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RNS Number : 3005H  Trafalgar Property Group PLC  26 July 2023

Certain information contained within this Announcement is deemed by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon
publication of this Announcement, this information is now considered to be in
the public domain.

26 July 2023

 

TRAFALGAR PROPERTY GROUP PLC

("Trafalgar", the "Company" or "Group")

Trading Update on Property Interests

 

Trafalgar (AIM: TRAF), the AIM quoted residential property developer operating
in southeast England, announces the following trading update on its property
interests:

Speldhurst

Trafalgar New Homes has appointed a contractor and work on the construction of
the new build in Speldhurst has commenced in July and is progressing well. A
build facility loan for ten months is in place with Lloyds Bank.

Burnside

The final unit at Burnside has now been sold at a price of £325,000 before
costs. The sale completed in February 2023 and the net sale proceeds were used
to clear the associated mortgage and loan funding attached to the property.

Leatherhead

Trafalgar Retirement+ is seeking to renegotiate the price on the option at
Leatherhead to reflect current market conditions. To date, renegotiation has
not been possible.

Orchard House

Selmat are delighted to announce that an offer of £950,000 has just this
month been accepted and is undergoing legal due diligence.

Other opportunities

The group continues to look at other opportunities but are conscious of the
current market conditions.

 

 Enquiries

 Trafalgar Property Group Plc                         +44 (0) 1732 700 000

 Paul Treadaway

 Spark Advisory Partners Ltd - AIM Nominated Adviser  +44 (0) 20 3368 3550

 Matt Davis

 Peterhouse Capital Limited - Broker                  +44(0)20 7409 0930

 Duncan Vasey/Lucy Williams

 

Notes to Editors:

Trafalgar Property Plc is the holding company of Trafalgar New Homes Limited,
Selmat Ltd and Trafalgar Retirement+ Limited, residential property developers
operating in the southeast of England. The founders have a long track record
of developing new and refurbished homes, principally in Kent and Surrey.

The Company's focus is on the select acquisition of land for residential
property development. The  outsources all development activities, for example
the obtaining of planning permission, design and construction, and uses fixed
price build contracts, enabling it to tightly control its development and
overhead costs.

For further information visit       www.trafalgarproperty.group
(http://www.trafalgarproperty.group/)    .

 

 

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