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 https://www.oneheritageplc.com/.
