Sale of Port Street car park, Manchester

RNS Number : 7356J

Town Centre Securities PLC

14 December 2022

 

14 December 2022

Town Centre Securities PLC
(The 'Group' or the 'Company')

Sale of Port Street car park, Manchester

Town Centre Securities PLC, the Leeds, Manchester, Glasgow and London property investment, development, car park and hotel operator, today announces completion of the sale of its surface level car park at Port Street, Manchester.

The Company is pleased to announce that on 14 December 2022 it completed on the sale of its surface level car park at Port Street, Manchester to Select Property Group for  £12.95m . The book value of this car park at 30 June 2022 was £12.75m and the net income generated in the year ended 30 June 2022 was £124k. The proceeds from the sale were used to repay bank borrowings.

ENDS

For further information, please contact:

Town Centre Securities PLC    Edward Ziff, Chairman and Chief Executive Stewart MacNeill, Group Finance Director	www.tcs-plc.co.uk / @TCS PLC 0113 222 1234
MHP Communications    Reg Hoare / Matthew Taylor	020 3128 8567 [e-mail]
Liberum                                                                      Jamie Richards / Lauren Kettle / Nikhil Varghese	www.liberum.com 020 3100 2123
Peel Hunt Carl Gough / Henry Nicholls	www.peelhunt.com 020 3597 8673 / 8640

Town Centre Securities PLC (TCS) is a Leeds based property investor, car park and hotel operator with assets of over £370m. With more than 60 years' experience, a commitment to sustainable development and a reputation for quality and innovation, TCS creates mixed use developments close to transport hubs in targeted major regional cities across the UK.

For more information visit www.tcs-plc.co.uk

 

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