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One Heritage Group plc: Signing construction finance facility

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One Heritage Group plc (OHG)
21-May-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.

21 May 2021

ONE HERITAGE GROUP PLC

(the "Company" or "One Heritage")

Signing construction finance facility

One Heritage Group PLC (LSE: OHG), the UK-based residential developer focused on the North West of England, is pleased to announce that it has signed its first construction finance facility with Lyell Trading Limited, the development finance company of the Blackfinch Group (the "Facility") on its Oscar House, Chester Road, Manchester development ("Oscar House").

The Facility is for a net amount of £3.5 million over an 18-month term with a 9.6% nominal interest rate. The Facility is drawn down as construction costs are incurred on Oscar House.

Oscar House is a development of 27 self-contained apartments in central Manchester with a gross development value of £6.1 million. Winworth Construction Limited is the principal contractor on the site and construction work has already commenced.  One Heritage expects the development to finish in Q1 2022. The remaining costs for Oscar House are being funded through existing resources.

 

One Heritage is continuing discussions with lenders for its other developments.

 

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-west 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/

 

 

 


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.:

106480

EQS News ID:

1199101


 

End of Announcement

EQS News Service

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