Dukemount Capital PLC Completion of West Derby Building Contract (7619U)
April 02 2019 - 1:01AM
UK Regulatory
TIDMDKE
RNS Number : 7619U
Dukemount Capital PLC
02 April 2019
02 April 2019
Dukemount Capital Plc
("Dukemount" or the "Company")
Completion of West Derby Building Contract
Dukemount Capital Plc, the long-dated income provider and
property management company is pleased to announce that the
building contract for the development of the West Derby Project in
North West England has been signed by the contractor.
The development involves the demolition of a large existing
building and the development of a purpose-built structure with 17
apartments and 3,200 square feet of retail space to the
specifications of a housing association which has signed a 50-year
lease. The targeted date for the works to be completed is June
2020.
A segregated mandate limited partnership managed by Alpha Real
Capital, which bought the project in December, is funding the
complete development cost of GBP3 million. Dukemount is managing
the development using monthly draw-downs from the GBP3 million. A
development profit is paid to Dukemount upon practical completion
of the development and this will be reflected in the results which
follow completion.
Dukemount Executive Chairman Geoffrey Dart said, "The agreement
with the contractor has been concluded and the demolition of the
existing building will commence soon."
Architect plans of the project can be viewed on our website
at:
http://dukemountcapitalplc.com/media.php
For further information, please contact:
Walbrook PR (Media Tel: +44 (0) 207 933 8780
and Investor Enquiries
Gary Middleton / dukemountcapital@walbrookpr.com
Paul Cornelius
Peterhouse Corporate Tel: +44 (0) 207 469 0930
Finance Limited
Lucy Williams/Duncan
Vasey
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END
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