Company update

RNS Number : 1599Q

Trafalgar Property Group PLC

17 June 2020

 

TRAFALGAR PROPERTY GROUP PLC

("Trafalgar", the "Company" or the "Group")

Company Update

Trafalgar (AIM: TRAF), the AIM quoted residential property developer operating in southeast England, provides the following update:

Sale of land in Barnett Wood Lane, Ashtead Surrey

Further to the Company's announcement on 20 January 2020, Trafalgar is pleased to announce that Ashtead has now been sold for £687,500 and that funds received will be used for general working capital requirements and for other schemes that are either in the planning system or indeed being worked on.

The Company is also pleased to announce it achieved planning permission on its site in Epsom Surrey and that this site is under offer and going through legal due diligence.

Enquiries:

Trafalgar Property Group Plc James Dubois	[phone]
Spark Advisory Partners Ltd - AIM Nominated Adviser Matt Davis	[phone]
Peterhouse Capital Limited - Broker Duncan Vasey/Lucy Williams	[phone]

Notes to Editors:

Trafalgar Property Group Plc is the holding company of Trafalgar New Homes Limited, a residential property developer operating in the southeast of England and Trafalgar Retirement + Limited, a property developer in the assisted living and extra care for the elderly sector.  The founders have a long track record of developing new and refurbished homes, principally in Kent.

The Company's focus is on the select acquisition of land for residential property development. The Company outsources all development activities, for example the obtaining of planning permission, design and construction, and uses fixed price build contracts, enabling it to tightly control its development and overhead costs.

 

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