14 April 2023
Town Centre Securities PLC
(The 'Group' or the 'Company')
Sale of part of Whitehall Riverside, Leeds
Town Centre Securities PLC, the Leeds, Manchester, Glasgow and London property investment, development, car park and hotel operator, today announces completion of the sale of part of its development site at Whitehall Riverside, Leeds.
The Company is pleased to announce that on 12 April 2023 it completed on the sale of the residential element of the new masterplan at Whitehall Riverside, Leeds to the build-to-rent residential developer, Glenbrook for £13.0m. The book value of this element of the Company's Whitehall Riverside development site at 31 December 2022 was £10.0m.
£10.0m of the proceeds from the sale will be used to repay bank borrowings with the balance retained for working capital purposes, to bring forward further development on the remainder of the site and to fund further opportunistic investments.
ENDS
For further information, please contact:
| Town Centre Securities PLC | www.tcs-plc.co.uk / @TCS PLC |
| Edward Ziff, Chairman and Chief Executive Stewart MacNeill, Group Finance Director
| 0113 222 1234 |
| MHP Group | 020 3128 8567 |
| Reg Hoare / Matthew Taylor
| tcs@mhpgroup.com |
| Liberum | |
| Jamie Richards / Lauren Kettle / Nikhil Varghese
| 020 3100 2123 |
| Peel Hunt | |
| Carl Gough / Henry Nicholls | 020 3597 8673 / 8640 |
Town Centre Securities PLC (TCS) is a Leeds based property investor, car park and hotel operator with assets of over £300m. With more than 60 years' experience, a commitment to sustainable development and a reputation for quality and innovation, TCS creates mixed use developments close to transport hubs in targeted major regional cities across the UK.
For more information visit www.tcs-plc.co.uk
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