One Heritage Group plc: Disposal of Seaton House, Stockport

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/.