St Mark Homes PLC
Project Update September 2014
The Company is continuing to trade well which has allowed the Company to pay an
interim dividend of 3.3p in August 2014. The AGM ( held on June 25th ) passed
all resolutions and the Directors remain optimistic for the future growth of
The main geographical focus of our activity continues to be within London and
the South East and our projects here have benefited from strong market
The status of our current portfolio of projects is outlined in further detail
Bulvinos House, Ealing, London, W13
The board entered into a joint venture to develop 14 residential units over
ground floor retail space at Bulvinos House, Uxbridge Road in Ealing in
All residential units have all been sold off-plan and construction is
progressing well and is expected to be completed in December 2014. Further
details are available on our website at
Palmerston Road, Wimbledon, London, SW19
There has also been strong sales demand for our project at Palmerston Road,
18 of the 20 private units on the project have been sold off plan and with
strong interest in the remaining two, they are expected to exchange prior to
the expected scheme completion in early 2015. The 4 affordable housing units
are also under offer with contracts expected to exchange in the near future.
Further details and images are at http://www.stmarkhomes.co.uk/palmerston-road.html .
Sutton High Street, Sutton, Surrey, SM1
The board entered into a joint venture to develop 40 residential units
(together with ground floor retail space) in the London Borough of Sutton. The
site acquisition completed in early 2014.
We have been working with our partners to optimise the value of the ground
floor retail space to include for amendments to accommodate the requirements of
a potential commercial purchaser.
Demolition works have been completed and construction is expected to commence
on site in earnest later this year. Completion is expected in the first half of
the 2016 financial year.
St Margarets,Waterside, Twickenham, TW7
The board have recently agreed to enter into a joint venture on the
redevelopment of Waterside Business Centre, Railshead Road, Twickenham. The
site is located within the St Margarets area of Richmond-Upon-Thames,
overlooking the River Thames bordering the River Crane.
The site is being acquired with the benefit of two planning consents, both
providing for a 4 storey over basement development, the first providing for 18
private sale residential units, 9 affordable housing residential units and 4
live / work units whilst the second provides for 21 private residential units
and c. 15,000 sq.ft of B1 commercial space. St. Margarets Station is located
0.7 miles from the site and Richmond Town Centre is approx. 15 minutes walk
(via the riverside path) from the site.
We also continue to have a presence in the West Country - our main focus is the
prime residential areas in Cheltenham.
Pond House, Pittville Crescent, Cheltenham, GL52
We have now sold the final unit on this project. Further details and images are
Hatherley Road, Cheltenham, GL51
We acquired a site for 8 luxury residential units in September 2013 at
Hatherley Road, Cheltenham. The units are a short walk from the shops and
restaurants in the Montpellier area. Construction is progressing well on site
with completion forecast for mid 2015. The marketing effort is to commence in
early 2015 with the opening of a show apartment.
Following the continuing robustness of the property market and with new project
opportunities emerging the board advise that they intend to allot new shares at
the market mid-price in accordance with the authority granted at the AGM in
Shareholders considering participating in this fresh issue are invited to
contact Barry Tansey by phone ( 0208 9032442 ) or by mail on
email@example.com to register their interest by close of business on
30th September 2014.