One Heritage Group plc: Disposal of Nicholas Street Developments Limited (1347367)
10 Maggio 2022 - 8:00AM
UK Regulatory
One Heritage Group plc (OHG) One Heritage Group plc: Disposal of
Nicholas Street Developments Limited 10-May-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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10 May 2022
ONE HERITAGE GROUP PLC
(the "Company" or "One Heritage")
Disposal of Nicholas Street Developments Limited
One Heritage Group PLC (LSE: OHG), the UK-based residential
developer focused on the North of England, is pleased to announce
that it has disposed of 5-9 Nicholas Street, Burnley, a Co-living
property (the "Property"), via the disposal of Nicholas Street
Developments Limited.
The transaction is with One Heritage Property Rental Limited
(the "Buyer"), which is a related party to the Company due to
common Directors, Jason Upton and Yiu Tak Cheung (Peter). One
Heritage SPC - UK Property Development Fund SP2, is the parent
company of the Buyer, for which Peter is the investment
manager.
The Property was acquired on 19 July 2019 originally as an
office and converted into a 13 bedroom Co-living property following
a substantial refurbishment. It is currently fully occupied by a
corporate tenant on a rolling contract which is due to end in June
2022, subsequent to which a new corporate tenant has signed a
12-month tenancy.
The Company will receive gross proceeds of GBP650,000 and
recognise a gain of GBP190,000.
The Board (excluding Jason Upton and Peter due to their
interests set out above) of the Company have approved the
transaction.
The Board is satisfied that the price achieved is in line with
the market.
David Izett, Non-Executive Chair of the Board commented "We are
pleased to have finalised this transaction and at a price which
comfortably exceeded our expectations".
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. 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.: 160503
EQS News ID: 1347367
End of Announcement EQS News Service
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May 10, 2022 02:00 ET (06:00 GMT)
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