THG Thg Plc

 

TIDMTHG 
 
RNS Number : 4419V 
Terrace Hill Group PLC 
10 July 2009 
 

10 July 2009 
 
 
TERRACE HILL GROUP PLC 
("Terrace Hill" or the "Company") 
 
 
 
 
TERRACE HILL ANNOUNCES BRISTOL AND EASTBOURNE LETTINGS 
 
 
- Completion and launch of Phase Two, Brabazon Office Park, 
with handover of forward sold building - 
 
 
 
 
Terrace Hill Group plc (AIM: THG), a leading UK property development and 
investment group, announces that it has secured around 17,000 sq ft of lettings, 
totalling over GBP155,000 pa, at its Brampton Industrial and Trade Park, 
Eastbourne, and Canningford House, Bristol, projects. The Company also announces 
the handover of an 8,000 sq ft office building, following a forward sale to 
Sovereign Housing which completed in May 2009, and the conclusion of Phase Two 
of Brabazon Office Park. 
 
 
Brampton Industrial and Trade Park 
Terrace Hill has let 7,909 sq ft to Menzies Distribution Ltd, a leading 
UK distributer of newspapers and magazines, who have signed a five-year lease at 
a rent of GBP59,317 per annum, equating to GBP7.50 per sq ft. 
 
 
Canningford House 
Terrace Hill has completed two new leases and the renewal of an existing lease, 
for a total of around 9,000 sq ft and over GBP95,000 of annualised income, at 
its Canningford House office scheme, 38 Victoria Street, Bristol, securing 
short-term income ahead of redevelopment. 
 
 
Lyons Davidson, the Bristol-based national law practise, has taken new five year 
leases on a total of 6,725 sq ft of office space at the property, with three 
year break clauses, at a combined rent of GBP62,517 per annum. These lettings 
comprise the renewal of 4,250 sq ft on the first floor of the building and an 
additional lease on 2,475 sq ft on the second floor.  Furthermore, it has agreed 
a rent of GBP10,140 pa on eight extra car parking spaces. 
 
 
In addition, the entire fourth floor of the property has been let to Turning 
Point, the UK's leading Social Care Organisation, on a new three-year lease over 
2,056 sq ft of office space from 31 March 2009 at a rent of GBP22,616, with an 
18-month break clause. 
 
 
Brabazon Office Park 
Terrace Hill has completed construction of and launched the second and final 
phase of Brabazon Office Park, its 2.70 acre office scheme located in 
Filton, North Bristol. Brabazon provides a total of 45,000 sq ft in a range of 
self-contained buildings of between 1,825 sq ft and 9,500 sq ft. With the recent 
handover of an 8,000 sq ft building, forward purchased by Sovereign Housing for 
GBP1.85 million, over 41% of the project is now occupied 
 
 
 
 
Commenting on the letting, Philip Leech, Chief Executive of Terrace Hill, said: 
"Following on from the announcements last week that we had successfully secured 
large lettings at Manhattan Gate and 129 Wilton Road, these latest deals further 
demonstrate our ability to attract new high profile tenants to our schemes, and 
to add value for our shareholders." 
 
 
Commenting on the Bristol lettings, Adam Pratt, Development Director of Terrace 
Hill, adds: 
"These deals at Canningford House are key in strategically securing the short 
term income streams of this office building while we finalise plans for this 
exciting city centre regeneration project." 
 
-Ends- 
 
For further information, please visit www.terracehill.co.uk or contact: 
Terrace Hill                                  Tel: 020 7631 1666 
 Philip 
Leech/Jon Austen 
Oriel Securities (Nominated Adviser) Tel: 020 7710 7600 
Richard Crawley 
Daniel Conti 
Financial Dynamics                        Tel: 020 7831 3113 
Richard 
Sunderland/Olivia Goodallterracehill@fd.com 
Notes to editors: 
 
 
Brampton Industrial and Trade Park 
Brampton Industrial and Trade Park, located on the Hampden Park Industrial 
Estate, the prime industrial area in Eastbourne, comprises a 108,415 sq ft trade 
counter and industrial development across 17 units, including 179 car parking 
spaces. All the industrial units have been sold, totalling 76,388 sq ft.  Three 
units, comprising 14,396 sq ft of trade park accommodation, remain available to 
let. 
 
 
Canningford House 
Built in the 1960's, Canningford House comprises approximately 20,000 sq ft of 
office space, arranged over six storeys, with a large car park to the rear. 
Existing tenants at the building include Action for ME, Jenkins & Potter and Age 
Concern.  Following these latest lettings, the property is 90% let, producing an 
annualised income of GBP198,553.  Acquired by Terrace Hill in 2007, the central 
Bristol site has been earmarked for redevelopment with draft proposals for a 
mixed-use scheme of 40,000 sq ft of office space and 10 residential flats. 
 
 
Brabazon Office Park 
Brabazon Office Park is a 2.70 acre office scheme located in Filton, North 
Bristol, and comprises a total of 45,000 sq ft in a variety of self-contained 
buildings ranging between 1,820 sq ft and 9,500 sq ft. Built over two phases, 
completed in May 2007 and June 2009 consecutively, the scheme is now 
approximately 41% let, with 26,378 sq ft remaining, arranged over seven units. 
 
 
Terrace Hill Group 
Terrace Hill Group PLC is an AIM-listed property development and investment 
group with three key divisions: 
  *  Commercial development and investment 
  *  Residential investment 
  *  Housebuilding. 
 
 
 
Formed in 1986, the Company has four offices in London, Glasgow, Teesside and 
Bristol, managing a commercial development programme, commercial and residential 
investment portfolios and a housebuilding business in Scotland. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCSSAFMUSUSEEW 
 

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