Letting

 

TIDMTHG 
 
RNS Number : 6368U 
Terrace Hill Group PLC 
29 June 2009 
 

 
 
29 June 2009 
Terrace Hill Group plc 
("Terrace Hill" or the "Company") 
 
 
38,500 SQ FT PRE LET TO MIDDLESBROUGH PRIMARY CARE TRUST 
-Start of construction on second building at Middlehaven development- 
 
 
Terrace Hill Group plc (AIM: THG), a leading UK property development and 
investment group, announces that it has secured a pre let to the Middlesbrough 
Primary Care Trust for the entire 38,500 sq ft of its Hudson Quay 2 office 
building in its Manhattan Gate development project on Teesside.The tenant will 
take a 15 year lease at an initial rent of GBP635,000 p.a. and construction will 
start in August 2009. 
 
 
Hudson Quay 2 is the second of five buildings to be developed at Terrace Hill's 
Manhattan Gate project which, when complete, will provide 142,500 sq ft of 
offices. The new letting follows Hertel's relocation of its UK headquarters to 
Hudson Quay 1 in December 2008. Manhattan Gate forms part of the 80 acre 
Middlehaven regeneration project, which is a mixed-use development rejuvenating 
the former docks adjacent to Middlesbrough's town centre. 
 
 
Commenting, Philip Leech Chief Executive of Terrace Hill, said: 
"We are delighted to have secured a pre-let with such a strong tenant as the 
Middlesbrough PCT. This is a great endorsement of our scheme and clearly 
demonstrates that, despite the current challenging market conditions, we are 
still able to attract tenants to our high quality and well located developments. 
Our current emphasis in development is to focus on pre let or pre sold schemes, 
which is demonstrated by this pre letting and those recently announced to 
Sainsburys. This philosophy should produce high returns with low risk to capital 
employed and greatly enhance shareholder value in our business." 
 
 
Dodds Brown and Storeys:SSP acted as letting agents for Terrace Hill. 
 
 
For further information: 
Terrace Hill 
Philip LeechTel: 020 7631 1666 
Martin VickermanTel: 01642 243 444 
 
 
Oriel Securities (Nominated Adviser) Tel: [phone] 
Richard Crawley 
Daniel Conti 
 
 
Financial Dynamics Tel: [phone] 
Richard Sunderland / Rachel Drysdale 
 
 
 
Notes to editors 
 
 
 
 
 
 
Hudson Quay / Manhattan Gate 
 
 
Hudson Quay 2 is a three storey building, which with Hudson Quay 1, will 
complete the redevelopment of the Manhattan Gate's waterside arena. It forms 
part of the 80 acre Middlehaven regeneration project, which is a mixed-use 
development rejuvenating the former docks adjacent to Middlesbrough's town 
centre. 
 
 
Upon completion, Manhattan Gate will consist of five office blocks and provide 
142,500 sq ft of employment space. The buildings will sit in a landscaped arena 
on the waterside at Middlehaven, benefit from high car park ratios and easy 
access to both Darlington and Newcastle through the area's strong transport 
links. Middlesbrough town centre, its shops and transport network are also just 
a short walk away. A 3,500 sq ft café bistro will also link both Hudson Quay 
buildings. 
www.manhattangate.com 
www.teesvalleyregeneration.co.uk/regeneration-projects/middlehaven 
 
 
Terrace Hill 
Terrace Hill Group PLC is an AIM listed property development and investment 
group with three key divisions: 
 
 
  *  Commercial development and investment 
  *  Residential investment 
  *  Housebuilding 
 
 
 
Formed in 1986, the company now has four offices in London, Glasgow, Teesside 
and Bristol, managing a total commercial and residential development and 
investment programme of some GBP1.2 billion. 
www.terracehill.co.uk 
 
 
Middlesbrough Primary Care Trust 
Middlesbrough Primary Care Trust (NHS Middlesbrough) is a local health 
organisation that commissions a wide range of health services for the people of 
Middlesbrough. The organisations works in partnership with NHS Hartlepool, NHS 
Redcar and Cleveland and NHS Stockton-on-Tees to ensure high quality health 
services are provided for local communities in the Tees area. This new purpose 
built office accommodation will provide a convenient base for its 250 staff who 
currently work across the Tees area. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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