TIDMTOWN

RNS Number : 1866W

Town Centre Securities PLC

14 April 2023

14 April 2023

Town Centre Securities PLC

(The 'Group' or the 'Company')

Sale of part of Whitehall Riverside, Leeds

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 part of its development site at Whitehall Riverside, Leeds .

The Company is pleased to announce that on 12 April 2023 it completed on the sale of the residential element of the new masterplan at Whitehall Riverside, Leeds to the build-to-rent residential developer, Glenbrook for GBP13.0m . The book value of this element of the Company's Whitehall Riverside development site at 31 December 2022 was GBP10.0m.

GBP10.0m of the proceeds from the sale will be used to repay bank borrowings with the balance retained for working capital purposes, to bring forward further development on the remainder of the site and to fund further opportunistic investments.

ENDS

For further information, please contact:

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

Town Centre Securities PLC (TCS) is a Leeds based property investor, car park and hotel operator with assets of over GBP300m. 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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April 14, 2023 02:00 ET (06:00 GMT)

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