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ONE HERITAGE GROUP PLC
Capital/Financing Update • May 21, 2021
5052_bfr_2021-05-21_14f8a8c5-5785-414f-af54-0ebb22f422ca.html
Capital/Financing Update
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One Heritage Group plc (OHG)
One Heritage Group plc: Signing construction finance facility
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: [email protected]
Luke Piggin
Finance Director
Email: [email protected]
Hybridan LLP (Financial Adviser and Broker)
Claire Louise Noyce
Email: [email protected]
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 |