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Town Centre Securities PLC completed the sale of its Port Street car park in Manchester to Select Property Group for £12.95m on 14 December 2022. The car park had a book value of £12.75m at 30 June 2022 and generated net income of £124k for the year ended 30 June 2022; proceeds were used to repay bank borrowings.
| Date | 14 Dec 2022 |
| Time | 14:40:57 |
| Category | Disposals |
| ID | 7356J |
14 December 2022
Town Centre Securities PLC
(The 'Group' or the 'Company')
Sale of Port Street car park, Manchester
Town Centre Securities PLC, the Leeds, Manchester, Glasgow and London property investment, development, car park and hotel operator, today announces completion of the sale of its surface level car park at Port Street, Manchester.
The Company is pleased to announce that on 14 December 2022 it completed on the sale of its surface level car park at Port Street, Manchester to Select Property Group for £12.95m. The book value of this car park at 30 June 2022 was £12.75m and the net income generated in the year ended 30 June 2022 was £124k. The proceeds from the sale were used to repay bank borrowings.
ENDS
For further information, please contact:
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Town Centre Securities PLC Edward Ziff, Chairman and Chief Executive Stewart MacNeill, Group Finance Director |
www.tcs-plc.co.uk / @TCS PLC 0113 222 1234 |
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MHP Communications Reg Hoare / Matthew Taylor |
020 3128 8567 |
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| Liberum Jamie Richards / Lauren Kettle / Nikhil Varghese |
020 3100 2123 |
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Peel Hunt Carl Gough / Henry Nicholls |
020 3597 8673 / 8640 |
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Town Centre Securities PLC (TCS) is a Leeds based property investor, car park and hotel operator with assets of over £370m. With more than 60 years' experience, a commitment to sustainable development and a reputation for quality and innovation, TCS creates mixed use developments close to transport hubs in targeted major regional cities across the UK.
For more information visit www.tcs-plc.co.uk