Trafalgar Property Group PLC Trading Update (3005H)

TIDMTRAF

RNS Number : 3005H

Trafalgar Property Group PLC

26 July 2023

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

26 July 2023

TRAFALGAR PROPERTY GROUP PLC

("Trafalgar", the "Company" or "Group")

Trading Update on Property Interests

Trafalgar (AIM: TRAF), the AIM quoted residential property developer operating in southeast England, announces the following trading update on its property interests:

Speldhurst

Trafalgar New Homes has appointed a contractor and work on the construction of the new build in Speldhurst has commenced in July and is progressing well. A build facility loan for ten months is in place with Lloyds Bank.

Burnside

The final unit at Burnside has now been sold at a price of GBP325,000 before costs. The sale completed in February 2023 and the net sale proceeds were used to clear the associated mortgage and loan funding attached to the property.

Leatherhead

Trafalgar Retirement+ is seeking to renegotiate the price on the option at Leatherhead to reflect current market conditions. To date, renegotiation has not been possible.

Orchard House

Selmat are delighted to announce that an offer of GBP950,000 has just this month been accepted and is undergoing legal due diligence.

Other opportunities

The group continues to look at other opportunities but are conscious of the current market conditions.

 
 Enquiries 
  Trafalgar Property Group Plc                    [phone] 
  Paul Treadaway                                  000 
 Spark Advisory Partners Ltd - AIM Nominated 
  Adviser                                       [phone] 
  Matt Davis                                     3550 
 Peterhouse Capital Limited - Broker 
  Duncan Vasey/Lucy Williams                    [phone] 
 

Notes to Editors:

Trafalgar Property Plc is the holding company of Trafalgar New Homes Limited, Selmat Ltd and Trafalgar Retirement+ Limited, residential property developers operating in the southeast of England. The founders have a long track record of developing new and refurbished homes, principally in Kent and Surrey.

The Company's focus is on the select acquisition of land for residential property development. The outsources all development activities, for example the obtaining of planning permission, design and construction, and uses fixed price build contracts, enabling it to tightly control its development and overhead costs.

   For further information visit               www.trafalgarproperty.group      . 

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July 26, 2023 08:54 ET (12:54 GMT)