Letting and Sale at Brabazon Office Park, Bristol

RNS Number : 5416Y

Terrace Hill Group PLC

02 March 2012

 



2 March 2012

TERRACE HILL GROUP PLC

("Terrace Hill" or the "Company")

Terrace Hill secures full occupation of Brabazon Office Park, Bristol, with final letting and sale

Terrace Hill Group (AIM: THG), a leading UK property development and investment group, announces that it has completed its final deals at Phase II of Brabazon Office Park, securing a further letting and sale on two units that together comprise 9,978 sq ft, meaning that the entire scheme is now occupied.

Terrace Hill has let the top floor of Unit 12, comprising 4,757 sq ft to Quest Engineering ltd on a 10 year lease at a rent of £15.50 per sq ft.  It has also sold Unit 10, comprising 5,221 sq ft over two floors, to Fable Trading for a total consideration of £895,000.  These two final deals follow a spate of lettings last year and bring about the full occupation of Brabazon Office Park, Terrace Hill's 2.70 acre office scheme located in Filton, North Bristol, which was built in two phases and comprises a total of 45,000 sq ft over a variety of self-contained buildings.

Philip Leech, Chief Executive of Terrace Hill, comments:

"These final transactions demonstrate the success of Terrace Hill in identifying and securing occupiers in a challenging market, and underline our belief that there continues to be demand for well-located, attractively priced, high quality stock." 

-Ends-

For further information please visit www.terracehill.co.uk or contact:

Philip Leech/Jon Austen                                                                         Tel. [phone]

Terrace Hill Group PLC

Gareth Price/Mark Young                                                                       Tel: [phone]

Oriel Securities (Nominated Adviser)                              

Richard Sunderland/Olivia Goodall/Will Henderson                                    Tel: [phone]

FTI Consulting                                                                                     [e-mail]

Notes to editors:

Terrace Hill Group

Terrace Hill Group PLC is a regionally based UK property development and investment group quoted on AIM.  Formed in 1986, the Company has five offices located in London, Glasgow, Teesside, Bristol and Manchester.

 

END

 

 

NRAMMGGFNMDGZZM