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ONE HERITAGE GROUP PLC
M&A Activity • Jun 24, 2021
5052_bfr_2021-06-24_c0127bed-1597-45d5-b9b8-ae11375c2559.html
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National Storage Mechanism | Additional information
One Heritage Group plc (OHG)
One Heritage Group plc: Development management agreement
24-Jun-2021 / 15:04 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.
24 June 2021
ONE HERITAGE GROUP PLC
(the "Company" or "One Heritage")
Development management agreement
One Heritage Group PLC (LSE: OHG), the UK-based residential developer focused on the North West of England, announces it has signed a new development management agreement with One Heritage North Church Limited in relation to a building known as North Church House, Queen Street, Sheffield ("North Church House, Queen Street").
North Church House, Queen Street is an existing office building in the Cathedral District of Sheffield, close to One Heritage's Bank Street scheme. The Company intends to redevelop North Church House, Queen Street into 58 self-contained apartments with a gross development value of circa £7.6 million. The project is expected to complete in Q3 2022.
The Company's advisory fees for the development management of North Church House, Queen Street are agreed at:
- 2% development management fee based on the total development costs and paid over the expected development period;
- 15% of the net profit generated by North Church House, Queen Street at completion; and,
- 1% of any external debt funding raised.
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 its investors. It has 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.: | 113478 |
| EQS News ID: | 1211785 |
| End of Announcement | EQS News Service |