Business
Trading Update
Trading Update.
About this update from Trafalgar Property Group Plc
[{"type":"text","content":"\n\nCertain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (\"MAR\") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.\n26 July 2023\n \nTRAFALGAR PROPERTY GROUP PLC\n(\"Trafalgar\", the \"Company\" or \"Group\")\nTrading Update on Property Interests\n \nTrafalgar (AIM: TRAF), the AIM quoted residential property developer operating in southeast England, announces the following trading update on its property interests:\nSpeldhurst\nTrafalgar New Homes has appointed a contractor and work on the construction of the new build in Speldhurst has commenced in July and is progressing well. A build facility loan for ten months is in place with Lloyds Bank.\nBurnside\nThe final unit at Burnside has now been sold at a price of £325,000 before costs. The sale completed in February 2023 and the net sale proceeds were used to clear the associated mortgage and loan funding attached to the property.\nLeatherhead\nTrafalgar Retirement+ is seeking to renegotiate the price on the option at Leatherhead to reflect current market conditions. To date, renegotiation has not been possible.\nOrchard House\nSelmat are delighted to announce that an offer of £950,000 has just this month been accepted and is undergoing legal due diligence.\nOther opportunities\nThe group continues to look at other opportunities but are conscious of the current market conditions.\n \n\n\n\nEnquiries\nTrafalgar Property Group Plc\nPaul Treadaway\n \n\n\n \n+44 (0) 1732 700 000\n\n\n\n\nSpark Advisory Partners Ltd - AIM Nominated Adviser\nMatt Davis\n \n\n\n+44 (0) 20 3368 3550\n\n\n\n\nPeterhouse Capital Limited - Broker\nDuncan Vasey/Lucy Williams\n\n\n+44(0)20 7409 0930\n \n\n\n\n \nNotes to Editors:\nTrafalgar Property Plc is the holding company of Trafalgar New Homes Limited, Selmat Ltd and Trafalgar Retirement+ Limited, residential property developers operating in the southeast of England. The founders have a long track record of developing new and refurbished homes, principally in Kent and Surrey.\nThe Company's focus is on the select acquisition of land for residential property development. The outsources all developme...