THG Thg Plc

RNS Number:5414I
Terrace Hill Group PLC
06 September 2006

6 September 2006

                    Terrace Hill Group PLC ("Terrace Hill")



                 Sale Of Two Prime Retail Parks For #28 Million



Terrace Hill, the AIM-listed property group, announces that it has sold two
prime retail park developments to Morley Pooled Pensions Ltd for a combined
total of #28.0 million in cash.  The pre-sale of Gala Water Retail Park at
Galashiels (43,500 sq ft) and the Blyth Valley Retail Park at Blyth in
Northumberland (61,000 sq ft), both which were due to be completed in the summer
of 2007, provides Terrace Hill with yields of 4.75 per cent. and 5.15 per cent
respectively.



Both parks are almost fully pre-let. Marks and Spencer plc, Next plc and New
Look are amongst the tenants at Gala Water, while a 35,000 sq ft let to Homebase
anchors Blyth Valley. Other occupiers at Blyth include Storey Carpets, Bedshed
and a KFC drive-in.  It is estimated that up to 500 new and sustainable jobs
will be created at the two parks.



Managing Director Philip Leech said: "Both Galashiels and Blyth have proved
popular locations as highlighted by the number of prestigious pre-lets secured.
The sale of these parks, ahead of completion and at yields above expectations,
further emphasises our ability to recognise lucrative opportunities, expanding
both the Terrace Hill brand and its growing reputation as a leading UK property
development and investment group."





For further information visit www.terracehill.co.uk or contact:

Philip Leech, Group Managing Director                         Tel: 01642 243444

Alasdair Robinson, Noble & Company Limited                    Tel: 0131 225 9677

Isabel Crossley, St Brides Media & Finance Ltd                Tel: 020 7242 4477



Notes to editors



Terrace Hill Group PLC - AIM-listed property group with two key divisions,
Commercial Development and Residential Investment and Development, and a total
development programme of over #900 million.  The Group continuously explores
ways of leveraging its equity to enhance returns for its shareholders and
recently established Terrace Hill Development Partnership, a commercial property
development fund.  Additionally, it has moved into the healthcare sector and is
developing a retirement village in joint venture.  The results to 30 April 2006
reported Triple Net Asset Value per share of 52.65p and total group assets of
#197.9 million.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
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