Completion of Wavertree Building Contract

25 March 2019

Dukemount Capital Plc

("Dukemount" or the "Company")

Completion of Wavertree Building Contract

Dukemount Capital Plc, the long-dated income provider and property management company is pleased to announce that the building contract for the redevelopment of the Wavertree property in North West England has been signed by the contractor. The refurbishment targeted date for the works to be completed is the 01 November 2019.  The date for completion under the building contract is 18 December 2019.

Dukemount is managing the refurbishment which will be funded by monthly draw-downs from Time: Social Freehold.  A development profit is paid upon practical completion of the conversion works and this will be reflected in the results which follow completion.

Dukemount Executive Chairman Geoffrey Dart said, "The agreement with the contractor has been concluded and the refurbishment of the Wavertree property will commence soon. The refurbishment requested by the housing association, includes increasing the number of rooms and adding some office space.

Architect plans and aerial photos of the project can be viewed on our website at:

http://dukemountcapitalplc.com/media.php

For further information, please contact: