Royal Mail PLC Exchange of contracts for sale of Nine Elms plots (4263V)
13 Diciembre 2021 - 3:59AM
UK Regulatory
TIDMRMG
RNS Number : 4263V
Royal Mail PLC
13 December 2021
Royal Mail plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code: RMG
ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
13 December 2021
ROYAL MAIL PLC
EXCHANGE OF CONTRACTS WITH LONDON SQUARE FOR SALE OF 3.04 ACRE
PLOT ON NINE ELMS PARK SITE
Royal Mail plc (RMG.L) announces that contracts have been
exchanged for the sale of the three remaining plots (Plots E, F and
G) on its Nine Elms Park site to London Square for a total gross
consideration of GBP111.23 million. The sale of the 3.04 acre site
is on a conditional basis.
A deposit of 10 per cent (GBP11.123 million) has been paid on
exchange of contracts, with the remaining 90 per cent (GBP100.107
million) payable on completion of the transaction expected in early
2022. Cash proceeds from the sale will be used in line with our
stated capital allocation policy, with around GBP35 million to be
re-invested into the Nine Elms site.
Situated in a prominent position within the Vauxhall Nine Elms
Battersea opportunity area, less than a mile from the Northern Line
Extension, the plots are bound by Ponton Road to the east,
Bellway's The Residence & Lexington Gardens to the south and
the US Embassy to the northeast. The plots have been sold with
planning consent to include up to 756 residential units, of which
133 will be affordable.
Martin Gafsen, Group Director of Property & Facilities
Solutions, Royal Mail , said: "The sale of plots E, F and G on our
Nine Elms site to London Square marks the final step in our
contribution to the emerging residential community in this exciting
new area of the capital. The new development will create more
housing, including affordable units, as well as community
facilities and more public space."
-Ends-
Enquiries:
Investor Relations
John Crosse
Email: investorrelations@royalmail.com
Royal Mail investor relations line: 020 7449 8183
Media Relations
Helen Reynoldson
Royal Mail press office: press.office@royalmail.com
Phone: 07483 302 245
Company Secretary
Mark Amsden
Email: cosec@royalmail.com
Notes to Editors
About Royal Mail plc
The Group consists of two principal operations; our UK-based
operation which includes Royal Mail and Parcelforce Worldwide
(Royal Mail) and our international operation, General Logistics
Systems (GLS). Royal Mail is the leading provider of postal and
delivery services in the UK and the UK's designated universal
postal service provider. Through the Royal Mail Core Network, the
company delivers a one-price-goes-anywhere service on a range of
parcels and letters products. Royal Mail has the capability to
deliver to more than 31 million addresses in the UK, six days a
week (excluding UK public holidays). Parcelforce Worldwide operates
a separate UK network which collects and delivers express parcels.
General Logistics Systems (GLS) which operates one of the largest
ground-based, deferred parcel delivery networks in Europe.
About London Square
Founded in 2010, London Square is a leading residential
developer delivering a range of high quality homes in
well-connected locations across Greater London. London Square has
expanded its existing platform to offer an entire eco-system of
tenures - private for sale, for rent and affordable. The company's
divisions comprise London Square Developments, its private for sale
arm, London Square Partners, set up to work with the public sector,
London Square Works, which focuses on developing high quality space
at its mixed use developments, and London Square Living, its new
Build to Rent division, which sources sites and develops the for
rentals. Square Roots is an independent provider of affordable
housing launched by London Square in 2021.
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END
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December 13, 2021 04:59 ET (09:59 GMT)
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