DJ One Heritage Group plc: Acquisition of Seaton House, Wellington Street, Stockport
One Heritage Group plc (OHG) One Heritage Group plc: Acquisition of Seaton House, Wellington Street, Stockport 11-Jan-2022 / 07:00 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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11 January 2022
ONE HERITAGE GROUP PLC
(the "Company" or "One Heritage")
Acquisition of Seaton House, Wellington Street, Stockport
One Heritage Group PLC (LSE: OHG), the UK-based residential developer focused on the North of England, is pleased to announce that it has signed an agreement to acquire Seaton House, Wellington Street, Stockport ("Seaton House") for GBP675,000, with an initial deposit of GBP67,500 paid on signing and the remaining balance paid on completion within the next 12 months. Seaton House is located in the centre of Stockport and only a 7 minute walk to Stockport train station, which has a direct line to both Manchester and London.
Seaton House is an existing office building with permitted development rights which would allow conversion into 12 apartments. One Heritage plans to submit a planning application for up to 30 apartments which will have a Gross Development Value of GBP5.6 million. Construction is expected to start upon successful planning and take 12 months, with completion expected in calendar Q4 2023.
Jason Upton, CEO of One Heritage Group commented: "I am delighted to secure our second acquisition in the heart of Stockport. Our existing St Petersgate development, scheduled to complete at the end of this year, is only a short walk away.
Stockport is seeing significant investment and could outperform against the broader property market due to its excellent connectivity to both London and Manchester via train, its proximity to Manchester airport, and its access to the Peak District."
Contacts
One Heritage Group plc
Jason Upton
Chief Executive Officer
Email: jason.upton@one-heritage.com
Luke Piggin
Finance Director
Email: luke.piggin@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 our investors. We are a team of dedicated residential property development experts. 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/
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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.: 135658 EQS News ID: 1266982 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
January 11, 2022 02:00 ET (07:00 GMT)
