One Heritage Group plc: Practical Completion of Liberty House, Bank Street, Sheffield (1635911)
18 Mayo 2023 - 1:00AM
UK Regulatory
One Heritage Group plc (OHG) One Heritage Group plc: Practical
Completion of Liberty House, Bank Street, Sheffield 18-May-2023 /
07:00 GMT/BST
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18 May 2023
ONE HERITAGE GROUP PLC
(the "Company" or "One Heritage")
Practical Completion of Liberty House, Bank Street,
Sheffield
One Heritage Group PLC (LSE: OHG), the UK-based residential
developer focused on the North of England, is pleased to announce
the practical completion of Liberty House, often referred to as
Bank Street, Sheffield, a residential development project
consisting of 23 high-end apartments.
The property is located in the heart of the Cathedral Quarter in
Sheffield City Centre, which is 10 minutes from Sheffield Hallam
University and Sheffield Train Station. The four-storey property is
18,190 ft2 with the apartments consisting of a mix of one-bed,
one-bed duplex and two-bed units. Due to the building's former use,
the high ceilings have allowed for a mezzanine to be installed in
some units creating duplex apartments. Liberty House, constructed
from local sandstone and originally built in 1894 as a County Court
House, is intentionally designed to showcase the building's
attractive inherent Grade II listed features such as its high
ceilings, deep skirtings and original architraves.
Construction work commenced in June 2021 with One Heritage
Construction as the principal contractor leading the delivery of
this complex redevelopment. The supporting design team comprised of
project managers Cube, SSHARC Architects, structural engineers
Kennedy Redford, mechanical and electrical engineers Crookes Walker
Consulting and principal designers RJD.
The Group has previously taken the decision to impair the value
of its Bank Street, St Petersgate and Oscar House developments by
GBP2.40m, and Bank Street accounts for approximately 65% of this
value. An update on this position will be reported in due course
once all apartments are sold and legally completed. Sales are
progressing and 17 units have exchanged contracts with a further 2
reservations and 4 remain unsold. The 17 exchanged should generate
GBP3.27m in revenue by the 26th May 2023. 11 units need to complete
to repay the construction finance.
Jason Upton, One Heritage CEO, commented:
"We are pleased to announce the completion of Liberty House,
Bank Street, marking our second practical completion of 2023. Due
to Liberty House being a Grade II listed building, it came with its
own set of redevelopment complexities in order to maintain original
features, but the team has overcome these to deliver an excellent
architectural finish. With two more completions in Manchester and
Stockport set to follow soon, we look forward to announcing further
project news imminently."
Contacts
One Heritage Group plc
Jason Upton
Chief Executive Officer
Email: jason.upton@one-heritage.com
Anthony Unsworth
Chief Financial Officer
Email: anthony.unsworth@one-heritage.com
Hybridan LLP (Financial Adviser and Broker)
Claire Louise Noyce
Email: claire.noyce@hybridan.com
Tel: +44 (0)203 764 2341
Yellow Jersey PR (Financial PR)
Charles Goodwin/Annabelle Wills/Bessie Elliot
Email: oneheritage@yellowjerseypr.com
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
.
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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.: 244494
EQS News ID: 1635911
End of Announcement EQS News Service
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May 18, 2023 02:00 ET (06:00 GMT)
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