Business
Potential re-financing of Merrion House, Leeds
Potential re-financing of Merrion House, Leeds.
About this update from Town Centre Securities Plc
[{"type":"text","content":"\n \nRNS Number : 9034T Town Centre Securities PLC 06 July 2018 \n\n6 July 2018\nTown Centre Securities PLC(The 'Group' or the 'Company')\n \nPotential re-financing of Merrion House, Leeds\nDiscussions underway with Leeds City Council\n \nTown Centre Securities (TCS), the Leeds based property investor and car park operator, is pleased to announce that it is in detailed discussions with Leeds City Council (LCC) in relation to a re-financing of Merrion House in Leeds.\n \nOn 6th February 2018, the Company announced practical completion of its Merrion House redevelopment. The 170,000 sq ft, ten-storey building is jointly owned by TCS and LCC in Merrion House Limited Liability Partnership, with LCC occupying the building on a new 25-year lease.\n \nThe Company is in advanced discussions with LCC with the aim of LCC making a discounted rent advance for the fixed, non RPI, element of the 25-year lease commitment.\n \nA further announcement will be made assuming the transaction receives LCC approval to proceed.\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation.\nLEI Number: 213800XRCH9RW2RIZD79 \nENDS\nFor further information, please contact: \nTown Centre Securities PLC www.tcs-plc.co.uk / @TCS PLC\nEdward Ziff, Chairman and Chief Executive 0113 222 1234\nMark Dilley, Group Finance Director \n \nMHP Communications &nbs...