Northacre PLC Appointment as Development Manager (3564F)
24 April 2014 - 12:26AM
UK Regulatory
TIDMNTA
RNS Number : 3564F
Northacre PLC
23 April 2014
Northacre PLC
("Northacre" or the "Company")
Appointment as Development Manager
Northacre is pleased to announce that it has entered into a
Development Management Agreement with Vicarage Gate (1314) Limited,
a special purpose vehicle incorporated for the purposes of this
project, under which the Company will be the Development Manager
for the development of the '13 & 14 Vicarage Gate' project.
This project is separate from the neighbouring 'Vicarage Gate
House' development, which is also under the instruction of
Northacre.
Under the terms of the Development Management Agreement, the
Company will be entitled to a fixed development management fee and
a performance fee.
13 & 14 Vicarage Gate has been purchased with the intent of
refurbishing the building. At present, both 13 & 14 Vicarage
Gate are internally connected and consist of seven flats. The new
scheme proposes eight residential apartments with a total area of
13,141 sq. ft. The area surrounding the property is predominantly
residential.
Enquiries:
Northacre PLC Tel: 020 7349 8000
Klas Nilsson (Non-Executive Chairman)
Niccolò Barattieri di San Pietro (Chief Executive Officer)
finnCap Ltd Tel: 020 7220 0500
Stuart Andrews
Henrik Persson
This information is provided by RNS
The company news service from the London Stock Exchange
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