St Mark Homes Plc Shareholder Update & Dividend Declaration

 
TIDMSMAP 
 
17 December 2020 
 
                               St Mark Homes PLC 
                               ("the Company") 
 
                   Shareholder Update & Dividend Declaration 
 
St Mark Homes PLC (AQSE: SMAP), the housebuilder operating mainly in London and 
the South East of England, today announces the following shareholder update: 
 
The board of St Mark Homes PLC wish to provide an update on the business and 
current status of its joint venture projects and to advise its shareholders on 
the payment of an interim dividend to them. 
 
As at December 2020, the Company had recently completed or was currently 
engaged in the development of five projects outlined in further detail below. 
 
Completed Project 
 
Gwynne Road, Battersea, London, SW11 
 
Following the completion of the development, the Company disposed of all 
residential units in this mixed- use scheme. The Company continues to market 
the commercial element of the scheme through its agents, Houston Lawrence, 
having obtained an extension of approved commercial uses from the London 
Borough of Wandsworth to include D1 (medical) and educational uses in July 
2020, in addition to previous office and retail uses. 
 
Current Projects 
 
324 - 346 High Street, Sutton 
 
The Company, in association with its JV partner, successfully secured planning 
consent from the London Borough of Sutton for the extension of  the  ground 
floor  retail  space  at  its  previous developed scheme at 324 - 340 High 
Street, Sutton, together with approval for a new six-storey building comprising 
30 residential apartments over ground floor retail space and basement car park 
on the adjacent land at 342 - 346 High Street, in November 2020.   Construction 
works are set to commence in February 2021, with completion of the scheme 
expected in the second half of 2022. 
 
The Company is in advanced negotiations with a FTSE 100 retailer for the 
letting of the ground floor retail space and is hopeful that this will lead to 
the securing of a long lease for this element of the scheme. 
 
The Company plans to commence marketing of the residential element of this 
scheme in the summer of 2021. 
 
144 - 156 Uxbridge Road, Hanwell, London, W7 
 
The Company has taken an equity stake in the development of a mixed use 
regeneration scheme (36 apartments over ground floor retail space together with 
7 houses) in Hanwell, London, W7. The development is located just 200m from the 
new Crossrail station at Hanwell in West London. 
 
Construction of the project is significantly underway and scheduled to be 
completed in Autumn 2021. 
 
The business has already secured a FTSE 100 tenant for 80% of the retail 
space.   The marketing of the residential element is schedule to commence in 
spring 2021. 
 
553 - 563 High Road, Finchley, N12 
 
The Company has formally established a new JV business with Mizen Group for the 
development of 5 new houses in Finchley, North London. 
 
The development will see the construction of 7 new houses in this affluent and 
leafy suburb of North London. 
 
Construction work is set to commence in spring of 2021, with completion 
forecast for spring 2022. 
 
2A - 2B Twyford Avenue, Muswell Hill, London, N2 
 
The Company (through its participation in the new JV business with Mizen Group) 
has also invested in a new build housing scheme in Muswell Hill, North London. 
This development will see the construction of seven new houses in this affluent 
and leafy suburb of North London. 
 
Construction is underway and is scheduled to be completed toward the end of 
2021. 
 
Interim Ordinary Dividend 
 
Following the success of the planning application at Sutton, the board have 
decided to declare an interim ordinary dividend in the amount of 3p per 
share.   The dividend will be paid to all shareholders on the register at 30th 
December 2020 and shall be paid on 8th January 2021. The ex-dividend date is 
29th December 2020. 
 
On behalf of the board, the Company would like to thank its shareholders for 
their continued support of the business. 
 
The Directors of St Mark Homes PLC accept responsibility for this announcement. 
 
- Ends - 
 
For further information, please contact: 
 
Sean Ryan, Finance Director 
St Mark Homes Plc 
seanryan@stmarkhomes.com 
Tel: +44 (0) 20 7903 6777 
 
AQSE Stock Exchange Corporate Adviser 
Alfred Henry Corporate Finance Limited 
Jon Isaacs 
jisaacs@alfredhenry.com 
www.alfredhenry.com 
Tel: +44 (0) 203 772 0021 
 
 
 
 
 
END
(END) Dow Jones Newswires
December 17, 2020 06:05 ET (11:05 GMT)
St Mark Homes (AQSE:SMAP)
Historical Stock Chart
From May 2024 to Jun 2024