Sutton Harbour Holdings PLC AGM Statement (8852Z)

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RNS Number : 8852Z

Sutton Harbour Holdings PLC

05 September 2018

5 September 2018

Sutton Harbour Holdings plc (the "Company")

Annual General Meeting Statement

The Chairman of Sutton Harbour Holdings plc intends to issue the following update to shareholders attending today's AGM.

Projects update

In July 2018, the Company submitted a detailed planning submission for the development of a residential led scheme at Sugar Quay (formerly East Quays) together with two smaller schemes, a 14 unit residential scheme at Harbour Arch Quay and a two storey extension to Harbour Car Park to accommodate an additional approximate 150 cars, to the Local Planning Authority. The Sugar Quay scheme incorporates 170 residential units, retail/commercial space and basement parking over 19 storeys. Subject to planning approval, work shall start on site in Summer 2019 with the projected completion by 2022.

The Company notes the issue of Post Hearing Advice from the Inspectors responsible for the Examination into the soundness of the Plymouth and South West Devon Joint Local Plan (JLP) 2014 -2034. The Inspectors report that the plan could be found sound subject to main modifications. This note did not make any reference to the Planning Authority's proposal to safeguard the Former Airport Site for 5 years for possible general aviation use. The timetable for publication of the Government Inspectors final report is not known.

Trading update

The good run of weather during the first few months of the financial year has supported a period of steady trading in marine and car parking activities. New lettings of some vacant premises have been completed, with more in the pipeline expected to complete in the near future.

Recruitment update

Over the summer months the board has been undertaking its search for a new Executive Director. Subject to final selection and satisfaction with regulatory criteria, an announcement about a new appointment will be made in due course.

Enquiries

 
 Sutton Harbour Holdings plc         [phone]   Philip Beinhaker, Executive Chairman 
                                                            Natasha Gadsdon, Finance Director 
 Arden Partners (NOMAD and Broker)   [phone]   Paul Shackleton, Ben Cryer 
 

Notes to Editors

Sutton Harbour Holdings plc (SUH) is an AIM listed company specialising in marine operations, waterfront regeneration and destination creation in Plymouth and South West England.

The Company operates Sutton Harbour Marina, King Point Marina and Plymouth Fisheries. Operational activities include mixed-use lettings, car parking and support services to harbour users, property management and regeneration and asset enhancement.

Sutton Harbour Holdings plc is committed to being the leading marine and waterfront regeneration specialist in Southern England, and to positioning Sutton Harbour in Plymouth as a destination of national interest.

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September 05, 2018 09:30 ET (13:30 GMT)