Barkby Group PLC Practical completion of second Roadside asset (5598S)
November 07 2023 - 2:00AM
UK Regulatory
TIDMBARK
RNS Number : 5598S
Barkby Group PLC
07 November 2023
Barkby Group PLC
("Barkby", or the "Company")
Practical completion of second Roadside asset
Barkby (AIM: BARK) is pleased to announce that its Roadside
development in Maldon (the "Asset") has achieved practical
completion and is fully let.
Commenting on the development, Executive Chairman, Charles
Dickson, said:
"Reaching practical completion of our second development,
located in Maldon, is another important step in the implementation
of our Roadside Real Estate and EV strategy.
Having recently announced the joint venture with Meadow Partners
LLP, which intends to create a modern roadside portfolio worth over
GBP250 million, we now have the capital and scale to drive forward
our strategy at pace.
We remain focused on building our portfolio by identifying and
acquiring high-quality sites where we can meet the requirements and
demands of both local communities and businesses by offering a mix
of Drive Thru, Foodvenience, Local Logistics and Trade Counter
Businesses, alongside EV charging facilities."
About the Asset
The Company's Maldon development is situated just off the A414
Wycke Hill in a prime location next to Wycke Hill business park and
near the town of Maldon, where 1,500 new dwellings are currently
under development. It was purchased in October 2021 for
GBP2.2m.
The Asset's total rentable space of 14,200 sq ft will be
occupied by a Costa Coffee (as a Drive Thru), Formula One
Autocentres, Toolstation, City Electrical Factors and Be-EV
producing a total rental income of GBP280,000 per annum, 78% of
which is index-linked with caps and collars. These tenants meet the
Company's demanding occupier criteria by virtue of their strong
structural underpinnings, brands and covenants.
Following completion, the Asset has an EPC rating of 'A', and
the site has been further enhanced with the addition and completion
of four Ultra-fast EV charging bays.
The Company is now focused on two further development assets in
Swindon and Spalding and looks forward to updating shareholders in
due course.
- Ends -
Enquiries:
Barkby Group
Charles Dickson, Executive Chairman
c/o Montfort Communications
Cavendish Capital Markets Limited (Nomad and
Broker)
Carl Holmes / Simon Hicks / Fergus Sullivan
(Corporate Finance) +44 (0) 20 7220
Tim Redfern (ECM) 0500
Stifel Nicolaus Europe Limited (Financial
Adviser and Joint Corporate Broker)
Mark Young
Jonathan Wilkes-Green +44 (0)20 7710
Catriona Neville 7600
+44 (0)78 1234
Montfort 5205
Olly Scott +44 (0)75 4284
Georgia Colkin 6844
About Barkby
Barkby is a roadside real estate business focused on building
and scaling a high-quality portfolio of modern, ESG-compliant
assets.
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END
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