Development Contract

7 Apr 2005 12:20

Sutton Harbour Holdings PLC07 April 2005 For Immediate Release 7 April 2005 Sutton Harbour Holdings plc ( "Sutton Harbour" or "the Company" ) Sutton Harbour has signed an agreement with Land Securities Trillium to developa substantial office building in the centre of Plymouth. The construction of the building, due for completion in Q2 2006, is expected tocost approximately £11.5 million, which will be financed through a new andseparate debt facility. Once completed, the building will be occupied by the Department of Work andPensions. The offices will be let on a 15 year lease and the Company will receive initial rental income of £14.25 per square foot. Contacts: Nigel Godefroy, Managing Director,Sutton Harbour Holdings plc 01752 204186Michelle Andrews, Williams de Broe 020 7588 7511Ken Rees, Binns Winningtons 0117 920 0092Or mobile 07802 466567 This information is provided by RNS The company news service from the London Stock Exchange