Town Centre Securities PLC - Leeds, England-based property investor, car park and hotel operator - Buys the remaining 50% interest in its Belgravia Living Group Ltd joint venture. The JV is between the company and the Highgrove Group, set up in 2016. As at December 31, Town Center's investment in BLG was GBP6.5 million. Net investment made today amounts to GBP3.5 million. Total investment now totals GBP10.0 million.
Chair & Chief Executive Edward Ziff says: "Burlington House was our first build to rent development and has performed well. We are seeing high levels of occupancy and rental growth, which provides the confidence to acquire the remaining interest in BLG, whilst seeking further acquisitions and bringing forward development of potential residential projects within our portfolio."
Current stock price: 141.90 pence each
12-month change: down 5.4%
By Xindi Wei, Alliance News reporter
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