One Heritage Group plc Completes Disposal of Seaton House, Stockport

One Heritage Group PLC (OHG), the UK-based residential developer and property manager, has finalized the sale of Seaton House in Stockport for £600,000. The transaction is a key part of the company's strategic initiatives in the North of England.

In addition to the sale of Seaton House, OHG has entered conditional contracts for the sale of the adjacent land, currently used as a car park, for £400,000. Completion of this sale depends on the buyer securing planning approval. The contract includes a nine-month stop period with a potential three-month extension. The buyer must submit the planning application within three months of contract exchange.

If both transactions are completed, OHG will generate total gross proceeds of £1,000,000, resulting in a net loss of £139,000 after selling costs. The proceeds will be reinvested into OHG's residential development projects in Northern England.