Business
Completion of West Derby Building Contract
Completion of West Derby Building Contract.
About this update from Capai Plc
[{"type":"text","content":"\n \nRNS Number : 7619U Dukemount Capital PLC 02 April 2019 \n\n02 April 2019\n \nDukemount Capital Plc\n(\"Dukemount\" or the \"Company\")\nCompletion of West Derby Building Contract\nDukemount Capital Plc, the long-dated income provider and property management company is pleased to announce that the building contract for the development of the West Derby Project in North West England has been signed by the contractor. \nThe development involves the demolition of a large existing building and the development of a purpose-built structure with 17 apartments and 3,200 square feet of retail space to the specifications of a housing association which has signed a 50-year lease. The targeted date for the works to be completed is June 2020. \nA segregated mandate limited partnership managed by Alpha Real Capital, which bought the project in December, is funding the complete development cost of £3 million. Dukemount is managing the development using monthly draw-downs from the £3 million. A development profit is paid to Dukemount upon practical completion of the development and this will be reflected in the results which follow completion. \nDukemount Executive Chairman Geoffrey Dart said, \"The agreement with the contractor has been concluded and the demolition of the existing building will commence soon.\"\nArchitect plans of the project can be viewed on our website at:\nhttp://dukemountcapitalplc.com/media.php\n \nFor further information, please contact:\n\n\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nWalbrook PR (Media and Investor Enquiries\n\n\nTel: +44 (0) 207 933 8780\n\n\n\n\nGary Middleton / Paul Cornelius\n\n\[email protected]\n\n\n\n\n \n\n\n \n\n\n\n\nPeterhouse Corporate Finance Limited\n\n\nTel: +44 (0) 207 469 0930\n\n\n\n\nLucy Williams/Duncan Vasey\n\n\n \n\n\n\n\n \n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END CNTEAFLFEDENEAF\n ","length":4794,"tagName":"div"}]