Exchange of Contracts at Malden, Essex

RNS Number : 6809M

Barkby Group PLC (The)

25 January 2021

 

25 January 2021

The Barkby Group PLC

("Barkby" or the "Company")

Exchange of Contracts at Malden, Essex

The Barkby Group PLC, the diversified business group, is pleased to announce that it has exchanged contracts on a property development site in Malden, Essex. The Company is now entering into legal negotiations with four tenants who will enter into pre-let agreements for occupation at completion of the re-development.

It is proposed that the Company will develop a 15,400 sq. ft. mixed-use retail and trade scheme at the site. Under the proposed development the site has an estimated gross development value of £6.0 million.

This adds to existing proposed schemes at Wellingborough, Huntingdon and Saffron Walden which the Company is currently developing.

Charles Dickson, Executive Chairman of The Barkby Group Plc, commented: 

"I am delighted to have exchanged contracts for this site in Malden, it adds to our growing pipeline of commercial property developments. The site is well positioned, and it is good to see that we are once again seeing strong demand from both the retail and employment sectors for new, well-located, developments despite the wider economic impact of the pandemic."

Enquiries:  

The Barkby Group plc Charles Dickson (Executive Chairman) Douglas Benzie (CFO)	via Camarco
finnCap Ltd (Nomad and Broker) Carl Holmes/Simon Hicks (corporate finance) Tim Redfern/Richard Chambers (ECM)	[phone]
Camarco (Financial PR) Jennifer Renwick/Jake Thomas	[phone]

Notes to editors

The Barkby Group PLC is a diversified group of high growth, high quality businesses run by an entrepreneurial and experienced management team. The existing wholly owned businesses within Barkby include; Commercial Property Development, Barkby Hospitality (comprising Barkby Pubs and Workshop Coffee) and Centurian Automotive. 

In addition to these businesses, Barkby has the right to participate in the upcoming fundraisings for two disruptive high growth private companies: Transcend Packaging, a sustainable and innovative paper packaging manufacturer aiming to eliminate single use plastic, and VivoPlex, a digital health company aiming to transform fertility treatment with precision medicine. 

Barkby's strategy is to accelerate and maximise opportunities within its existing businesses as well as continue to source and invest in cash generative, growth businesses with the ability to disrupt. 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

 

END

 

 

CNTFLFITLRISFIL