Town Centre Securities PLC Sale of Port Street car park, Manchester (7356J)

TIDMTOWN

RNS Number : 7356J

Town Centre Securities PLC

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 GBP12.95m . The book value of this car park at 30 June 2022 was GBP12.75m and the net income generated in the year ended 30 June 2022 was GBP124k. The proceeds from the sale were used to repay bank borrowings.

ENDS

For further information, please contact:

 
 Town Centre Securities PLC                                 www.tcs-plc.co.uk / @TCS PLC 
  Edward Ziff, Chairman and Chief Executive                                0113 222 1234 
  Stewart MacNeill, Group Finance Director 
 
 MHP Communications                                                        020 3128 8567 
  Reg Hoare / Matthew Taylor                                                tcs@mhpc.com 
 
 Liberum Jamie Richards / Lauren Kettle / Nikhil Varghese                www.liberum.com 
                                                                           020 3100 2123 
 Peel Hunt                                                              www.peelhunt.com 
  Carl Gough / Henry Nicholls                                       020 3597 8673 / 8640

Town Centre Securities PLC (TCS) is a Leeds based property investor, car park and hotel operator with assets of over GBP370m. 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

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December 14, 2022 09:40 ET (14:40 GMT)

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