Disposal of Seaton House, Stockport
04/07/2024 07:00
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One Heritage Group plc (OHG)
One Heritage Group plc: Disposal of Seaton House, Stockport
04-Jul-2024 / 07:00 GMT/BST
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4 July 2024
ONE HERITAGE GROUP PLC
(the “Company” or “OHG”)
Disposal of Seaton House, Stockport
One Heritage Group PLC ("the Company" or "OHG"), the UK-based residential
developer, development manager and property manager focused on the North
of England is pleased to announce that it has completed the sale of the
building Seaton House, Stockport for £600,000.
Additionally, the Company has exchanged conditional contracts for the sale
of the land to the rear of Seaton House, an existing car park, for a sale
price of £400,000. The completion of this sale is subject to the buyer
obtaining planning approval. The contract includes a nine month long stop
period with the seller able to extend by three months, and the buyer is
obligated to submit the planning application within three months of the
exchange of contracts.
Should the conditional land transaction also complete, total gross
proceeds would therefore be £1,000,000 on which the Company would
recognise a loss after selling costs of £139,000.
Proceeds from these transactions will be reinvested into the Company's
pipeline of residential development projects in the North of England.
Contacts
One Heritage Group plc
Jason Upton
Chief Executive Officer
Email: jason.upton@one-heritage.com
Hybridan LLP (Financial Adviser and Broker)
Claire Louise Noyce
Email: claire.noyce@hybridan.com
Tel: +44 (0)203 764 2341
About One Heritage Group
One Heritage Group PLC is a property development and management company.
It focuses on the residential sector primarily in the North of England,
seeking out value and maximising opportunities for investors. In 2020 One
Heritage Group PLC became one of the first publicly listed residential
developers with a focus on co-living.
The Company is listed on the Standard List of the Main Market of the
London Stock Exchange, trading under the ticker OHG.
For further information, please visit the Company’s website
at 1 https://www.oneheritageplc.com/.
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The issuer is solely responsible for the content of this announcement.
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ISIN: GB00BLF79495
Category Code: UPD
TIDM: OHG
LEI Code: 2138008ZZUCCE4UZHY23
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 331947
EQS News ID: 1939241
End of Announcement EQS News Service
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