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One Heritage Group plc (OHG)
9 January 2024 ONE HERITAGE GROUP PLC (the “Company”) Practical Completion of St Petersgate, Stockport
One Heritage Group PLC, the UK-based residential developer focused on the North of England, is pleased to announce the practical completion of St Petersgate, Stockport, a residential development project consisting of 18 high-end apartments and one commercial unit.
The property, formerly an office building, is located in the heart of Stockport town centre. The five storey property is c. 12,000 square feet and comprises a mix of one and two bed apartments.
Construction work on this project commenced in Q1 2022 with One Heritage Construction as the principal contractor leading the delivery of the redevelopment. The supporting design team comprised project managers Innov8, SSH Architects, structural engineers Kennedy Redford, mechanical and electrical engineers Crooks Walker and principal designers RJD Associates.
Sales are progressing and all 18 units have exchanged contracts and the commercial unit has been pre let at £15,000 per annum. There is no construction finance to repay, and the Company expects to receive net proceeds of £2.9m later this month.
Jason Upton, One Heritage CEO, commented: “We are pleased to announce the completion of St Petersgate, Stockport marking our first practical completion of 2024. The former office building has been completely transformed into apartments and a commercial unit, testament to our commitment to revitalise spaces and create new homes. The development is in central Stockport and we are delighted to contribute towards this area’s flourishing landscape and community.”
Contacts
One Heritage Group plc Jason Upton Chief Executive Officer Email:
Anthony Unsworth Chief Financial Officer Email:
Hybridan LLP (Financial Adviser and Broker) Claire Louise Noyce Email: Tel: +44 (0)203 764 2341
Yellow Jersey PR (Financial PR) Charles Goodwin/Annabelle Wills/Bessie Elliot Email: Tel: +44 (0)203 004 9512
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 . Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| 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.: | 296438 |
| EQS News ID: | 1811273 |
| End of Announcement | EQS News Service |
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