Sutton Harbour Group PLC AGM Statement (2416L)
September 04 2019 - 9:31AM
UK Regulatory
TIDMSUH
RNS Number : 2416L
Sutton Harbour Group PLC
04 September 2019
4 September 2019
Sutton Harbour Group plc (the "Company")
Annual General Meeting Statement
The Chairman of Sutton Harbour Group plc intends to issue the
following update to shareholders attending today's AGM.
Projects update
During the summer months the Company has made good progress with
pre-construction preparations for two consented developments at
Sutton Harbour. Financing of the smaller Harbour Arch Quay building
has been arranged and construction is expected to start before the
end of the calendar year, along with the launching of the marketing
of the fourteen apartments. The building should take just over a
year to complete. The larger Sugar Quay scheme is proceeding to
construction drawings, bidding by construction contractors and
scheme financing, with an anticipated start in Q1 of 2020 of the
approximate 30 month build programme.
The Company continues to upgrade its existing capital
infrastructure and works are currently underway to construct a new
fuel delivery system at Plymouth Fisheries. This capital investment
of approximately GBP800,000 has qualified for 50% grant funding. To
improve public access and events space at Sutton Harbour Marina, in
addition to creating additional larger berths in time for the
summer of 2020, marine licensing applications have been submitted
to enable the installation of some new additional pontoons.
Trading update
Trading at the marinas and car parks over the summer months has
been better than compared to last year whilst the fisheries has
performed at the same level to last year. The Company is
discussions with various prospective tenants for the remaining
available vacant spaces on the estate.
Recruitment update
As previously announced, the board has undertaken search for an
additional executive director and confirmation of this is expected
to be made later in the Autumn.
Enquiries
Sutton Harbour Group plc +44 (0) 1752 204186 Philip Beinhaker, Executive Chairman
Natasha Gadsdon, Finance Director
Arden Partners (NOMAD and Broker) +44 (0)20 7614 5917 Paul Shackleton, Ben Cryer
Notes to Editors
Sutton Harbour Group plc (SUH) is an AIM listed company
specialising in marine operations, waterfront regeneration and
destination creation in Plymouth and South West England.
The Company operates Sutton Harbour Marina, King Point Marina
and Plymouth Fisheries. Operational activities include mixed-use
lettings, car parking and support services to harbour users,
property management and regeneration and asset enhancement.
Sutton Harbour Group plc is committed to being the leading
marine and waterfront regeneration specialist in Southern England,
and to positioning Sutton Harbour in Plymouth as a destination of
national interest.
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END
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