One Heritage Group plc: Development update (1158904)
07 Gennaio 2021 - 8:00AM
UK Regulatory
One Heritage Group plc (OHG)
One Heritage Group plc: Development update
07-Jan-2021 / 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.
07 January 2021
ONE HERITAGE GROUP PLC
Development update
One Heritage Group PLC (LSE: OHG) ("One Heritage"), the UK-based residential
developer focused on the North West of England, is providing an update on
the progress of projects owned and managed. In the prospectus, published on
18 December 2020 prior to its admission to the Main Market, the Company set
out specific commencement dates for various projects including development
management properties. Three of those projects are subject to revised
timetables due to the fast-changing backdrop of the UK economy relating to
COVID and the various tiered system measures leading to a third full lock
down.
5-9 Nicholas Street, Burnley is a single property that the Group acquired to
convert into a 13 room Co-living property. The initial expectation was that
this would be completed by the end of 2020 and once occupied, marketed for
sale. It is now expected that the refurbishment will complete and the
property will be occupied in Q1 2021 with the marketing of the property for
sale thereafter.
One Heritage is the development manager for four other sites as at today's
date and two of those are Waterloo Place, the landmark 545-unit development
in Salford; and the former Oldham Court House on New Radcliff Street,
Oldham, which is being developed into 43 apartments. The Company highlighted
that construction would commence for Waterloo Place at the end of 2020 and
that Oldham County Court would have achieved planning at the same time.
However, it is now expected that construction for Waterloo Place will
commence in Q2 2021 and that Oldham County Court will have achieved planning
in Q1 2021.
One Heritage CEO Jason Upton said: "We have been operating within a
challenging environment including a new national lockdown, but continue to
experience strong demand for our properties, especially from overseas
buyers. We have seen no sign of demand slowing in 2021 and expect to have a
strong year for property sales and reservations."
This announcement contains inside information.
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 is a property development and investment management Company,
focusing on the residential sector primarily in the North West, acting as
its own principal or development manager on behalf of third-party investors
for both development activities and refurbishment activities. The Company
also undertakes letting and property and facilities management services for
these products.
We are a team of dedicated and experienced professionals who have a proven
track record in complex property development and investment. In 2020 One
Heritage Group plc became one of the first publicly listed residential
developers with a focus on co-living.
One Heritage Group plc 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.one-heritageplc.com/
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.: 90977
EQS News ID: 1158904
End of Announcement EQS News Service
(END) Dow Jones Newswires
January 07, 2021 02:00 ET (07:00 GMT)
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