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One Heritage Group plc: Signing construction finance facility

One Heritage Group plc (OHG)
One Heritage Group plc: Signing construction finance facility

21-May-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

21 May 2021


(the “Company” or “One Heritage”)

Signing construction finance facility


One Heritage Group PLC (LSE: OHG), the UK-based residential developer focused on the North West of England, is pleased to announce that it has signed its first construction finance facility with Lyell Trading Limited, the development finance company of the Blackfinch Group (the “Facility”) on its Oscar House, Chester Road, Manchester development (“Oscar House”).

The Facility is for a net amount of £3.5 million over an 18-month term with a 9.6% nominal interest rate. The Facility is drawn down as construction costs are incurred on Oscar House.

Oscar House is a development of 27 self-contained apartments in central Manchester with a gross development value of £6.1 million. Winworth Construction Limited is the principal contractor on the site and construction work has already commenced. One Heritage expects the development to finish in Q1 2022. The remaining costs for Oscar House are being funded through existing resources.

One Heritage is continuing discussions with lenders for its other developments.


Jason Upton

Chief Executive Officer



Luke Piggin

Finance Director



Hybridan LLP (Financial Adviser and Broker)

Claire Louise Noyce


Tel: +44 (0)203 764 2341