One Heritage Group plc: Acquisition of Development Land on Victoria Road, Eccleshill, West Yorkshire

12 July 2022

ONE HERITAGE GROUP PLC

(the “Company” or “One Heritage”)

Acquisition of Development Land on Victoria Road, Eccleshill, West Yorkshire

One Heritage Group PLC (LSE: OHG), the UK-based residential developer focused on the North of England, is pleased to announce that it has completed the acquisition of development land on Victoria Road, Eccleshill, West Yorkshire ("Victoria Road") for £1,000,000. Victoria Road is located 3.5 miles from Bradford and 9.5 miles from Leeds, with excellent connectivity, and is within easy reach by car to Harrogate and the countryside of the Yorkshire Dales.   

The land on Victoria Road was previously used for industrial purposes and all buildings have been fully demolished. It has planning consent for the construction of 24 houses which are a mixture of 2, 3 and 4 bedrooms. Upon completion the development will have a Gross Development Value of £6.5 million. Construction is expected to start Q4 2022, with completion in Q3 2024.

The acquisition is being funded from the proceeds of the successful £1.25 million subscription of shares, announced on 6 July 2022, which were admitted to trading on 8 July.

Jason Upton, CEO of One Heritage Group commented: "I am delighted that we have secured this development land in Eccleshill which will be our first new build housing development. Its location fits our model of building residential property in areas with high demand in the North of England."

 

Contacts

One Heritage Group plc

 

Jason Upton

Chief Executive Officer

Email: jason.upton@one-heritage.com

 

Luke Piggin

Finance Director

Email: luke.piggin@one-heritage.com

 

Hybridan LLP (Financial Adviser and Broker)

Claire Louise Noyce

Email: claire.noyce@hybridan.com

Tel: +44 (0)203 764 2341

About One Heritage Group

One Heritage Group PLC is a property development and management company. It focuses on the residential sector primarily in the North of England, seeking out value and maximising opportunities for our investors. In 2020 One Heritage Group PLC became one of the first publicly listed residential developers with a focus on co-living.

The Company is listed on the Standard List of the Main Market of the London Stock Exchange, trading under the ticker OHG. 

For further information, please visit the Company’s website at https://www.oneheritageplc.com/