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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Town Centre Securities Plc | LSE:TOWN | London | Ordinary Share | GB0003062816 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.50 | -0.35% | 141.50 | 139.00 | 144.00 | 140.00 | 140.00 | 140.00 | 48,930 | 16:35:03 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 31.2M | -29.88M | -0.5687 | -2.46 | 73.54M |
TIDMTOWN
RNS Number : 2592N
Town Centre Securities PLC
08 May 2018
8 May 2018
Town Centre Securities PLC
(The 'Group' or the 'Company')
Acquisition of Ducie House in Piccadilly Basin, Manchester
Town Centre Securities (TCS), the Leeds based property investor and car park operator, is pleased to announce the acquisition of Ducie House, a 33,000 sq ft office building with a 63-space car park, for GBP9 million.
Contracts have now been exchanged between TCS and Urban Splash, a regeneration company and the former owner of Ducie House, who converted the building from a petticoat factory into loft-style workspaces two-decades ago.
The deal will be TCS's fifth in the area as it continues its investment in the regeneration of Piccadilly Basin. TCS has a mixture of retail, commercial and residential developments in the area, including Urban Exchange, Carver's Warehouse and Burlington House, with a focus on further developing the south-eastern side of Great Ancoats Street as a link to the city centre.
Situated on the fringe of Manchester's Northern Quarter and just a two-minute walk from Piccadilly Station, the city's busiest mainline and Metrolink station, Ducie House is a contemporary development which provides highly flexible work solutions for businesses of varying size. There are currently 64 office and studio spaces ranging in size from 82 to 3,900 sq ft and these spaces have been occupied by iconic Manchester brands such as 808 State and Simply Red, as well as ANS, UK Fast, Ask Developments and Ear to the Ground.
There are approximately 50 tenants based in the building at present, with a number of unique units available to let and the majority of units are let on an all-inclusive flexible lease basis producing an annual income of GBP675,000.
Edward Ziff, Chairman and Chief Executive, said:
"We're delighted to have acquired Ducie House, an exciting development in a prominent location in Manchester, and it forms a key part of our investment and regeneration of Piccadilly Basin and the surrounding area.
"We believe the building will be a valuable addition to our existing assets at Piccadilly Basin and is directly opposite our next planned residential development, Eider House. We certainly see room for potential refurbishment, as well as the development of the car park."
ENDS
For further information, please contact:
Town Centre Securities PLC www.tcs-plc.co.uk / @TCS PLC
Edward Ziff, Chairman and Chief Executive 0113 222 1234
Mark Dilley, Group Finance Director
MHP Communications 0203 128 8742
Reg Hoare / Alistair de Kare- Silver tcs@mhpc.com
Notes to Editors:
Town Centre Securities PLC (TCS) is a Leeds based property investor and car park operator with assets of approximately GBP385m. With more than 50 years' experience, a commitment to sustainable development and a reputation for quality and innovation, TCS creates mixed use developments close to transport hubs in major cities across the UK. Its current portfolio delivers an annual income of more than GBP26m.
For more information visit www.tcs-plc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
May 08, 2018 02:00 ET (06:00 GMT)
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