Telford Homes PLC Acquisition of prominent site in Walthamstow (9487Z)

TIDMTEF

RNS Number : 9487Z

Telford Homes PLC

20 December 2017

 
   20 December 2017

Telford Homes Plc

('Telford Homes' or the 'Group')

Acquisition of prominent site in Walthamstow

Telford Homes Plc (AIM: TEF), the residential property developer focused on non-prime London, is pleased to announce that it has exchanged and completed contracts with U+I and Parkdale Investments Ltd for the purchase of a significant residential-led development site situated in Forest Road, Walthamstow, E17 for total consideration of GBP33.9 million.

The 3.16 acre Equipment Works site in the London Borough of Waltham Forest benefits from detailed planning consent for 257 open market homes, 80 affordable homes and 18,830 square feet of flexible commercial space. Whilst the development can be marketed for individual sales the Group expects to explore entering into a build to rent transaction for the delivery of the open market homes in the new year and will undertake the detailed design accordingly.

The site is serviced by excellent transport links being situated within 150 metres of Blackhorse Road station on the Victoria line and London Overground. Vacant possession is expected by April 2018 and Telford Homes intends to commence work in Autumn 2018 with completion anticipated in late 2021.

Jon Di-Stefano, Chief Executive of Telford Homes, commented: "We are delighted to have completed the purchase of the Equipment Works site in Waltham Forest which we believe represents an excellent build to rent opportunity. This acquisition not only adds to our substantial development pipeline, but should further enhance our reputation as a significant developer of build to rent housing in London."

- Ends -

For further information:

 
 Telford Homes Plc 
 Jon Di-Stefano, Chief Executive 
 Katie Rogers, Financial                 Tel: +44 (0) 1992 
  Director                                         809 800 
 Guy Lambert, Head of Corporate    www.telfordhomes.london 
  Communications 
 
   Shore Capital (Nomad and 
   Joint Broker) 
 Dru Danford / Patrick Castle                Tel: +44 (0) 20 
                                                   7408 4090 
 
   Peel Hunt LLP (Joint Broker) 
 Charles Batten / Capel Irwin                Tel: +44 (0) 20 
                                                   7418 8900 
 
   Media enquiries: 
   Buchanan (PR Adviser) 
 Henry Harrison-Topham /                   Tel: +44 (0) 20 
  Victoria Hayns                                 7466 5000 
 telfordhomes@buchanan.uk.com          www.buchanan.uk.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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