ONE HERITAGE GROUP PLC
Released 11:00:04 12 July 2022
One Heritage Group plc (OHG)
One Heritage Group plc: Acquisition of Development Land on Victoria Road, Eccleshill, West Yorkshire
12-Jul-2022 / 11:00 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.
Acquisition of Development Land on Victoria Road, Eccleshill, West Yorkshire
One Heritage Group PLC (LSE: OHG), the UK-based residential developer focused on the North of England, is pleased to announce that it has completed the acquisition of development land on Victoria Road, Eccleshill, West Yorkshire (“Victoria Road”) for £1,000,000. Victoria Road is located 3.5 miles from Bradford and 9.5 miles from Leeds, with excellent connectivity, and is within easy reach by car to Harrogate and the countryside of the Yorkshire Dales.
The land on Victoria Road was previously used for industrial purposes and all buildings have been fully demolished. It has planning consent for the construction of 24 houses which are a mixture of 2, 3 and 4 bedrooms. Upon completion the development will have a Gross Development Value of £6.5 million. Construction is expected to start Q4 2022, with completion in Q3 2024.
The acquisition is being funded from the proceeds of the successful £1.25 million subscription of shares, announced on 6 July 2022, which were admitted to trading on 8 July.
Jason Upton, CEO of One Heritage Group commented: “I am delighted that we have secured this development land in Eccleshill which will be our first new build housing development. Its location fits our model of building residential property in areas with high demand in the North of England.”