Springfield Properties PLC Sale of land for £8.7m
19 Février 2024 - 8:00AM
RNS Regulatory News
RNS Number : 5817D
Springfield Properties PLC
19 February 2024
19 February
2024
Springfield Properties
plc
("Springfield", the "Company", the "Group" or the "Springfield
Group")
Sale of land for
£8.7m
Springfield Properties plc (AIM:
SPR), a leading housebuilder in Scotland focused on delivering
private and affordable housing, is pleased to announce that it has
signed an agreement for the sale of approximately 11.2 acres of
land for £8.7m. The land, which equates to 85 plots, is fully owned
by the Group, such that the cash inflow to the Group will be
£8.7m.
The Group expects to receive £6.5m
in the current financial year and the remainder in the following
year. The proceeds from the sale will support the Group's ongoing
target to reduce debt.
Innes Smith, CEO of Springfield Properties,
said: "We are pleased to have agreed
another profitable land sale, which brings the total since October
2023 to over £18m. With one of the largest, high-quality land banks
in Scotland, these sales are an attractive way of monetising our
land bank without impacting our development pipeline. We are in
advanced negotiation regarding further land sales, which remains a
key element of our strategy to reduce our bank debt."
Enquiries
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Springfield Properties
|
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|
Sandy Adam, Chairman
Innes Smith, Chief Executive
Officer
Iain Logan, Chief Financial
Officer
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+44 1343 552550
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Singer Capital Markets
|
|
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Shaun Dobson, James Moat, Oliver
Platts (Investment Banking)
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+44 20 7496 3000
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Gracechurch Group
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Harry Chathli, Claire Norbury, Henry
Gamble
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+44 20 4582 3500
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Analyst Research
Equity Development and Progressive
Equity produce freely available research on Springfield Properties
plc, including financial forecasts. This is available to view and
download here:
https://www.thespringfieldgroup.co.uk/news/updates-and-analyst-reports
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END
DISTLMFTMTTBMAI
Springfield Properties (LSE:SPR)
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Springfield Properties (LSE:SPR)
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De Nov 2023 à Nov 2024
