TIDMHSP

Hargreaves Services PLC

06 April 2021

Hargreaves Services plc

("Hargreaves" or the "Group")

Further Developments at Blindwells

Sale of 2.9 acres to Cruden Homes

Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the industrial and property sectors, announces the completion of the sale of a further phase of land at Blindwells, its major 1,600 unit residential development site near Edinburgh.

Following the completion of the first sale of land at Blindwells to Bellway in January and the subsequent announcement of the conditional sale to Persimmon of another 12.9 acre parcel, Hargreaves Land has now completed the sale of 2.9 acres to Cruden Homes. This phase provides 60 affordable homes.

The initial sale consideration of this phase is c.GBP0.5m, payable on completion, with some potential deferred consideration following final agreement of abnormal costs.

Note: Blindwells is a major development site of around 150 acres owned by Hargreaves. Located less than 15 miles east of Edinburgh, enabling infrastructure is being carried out progressively by Hargreaves Land to enable the phased sale of residential parcels at Blindwells. The site has outline planning permission for 1,600 homes. Further information is available at www.blindwells.co.uk .

For further details:

 
 Hargreaves Services                                                           www.hsgplc.co.uk 
  Gordon Banham, Chief Executive                                             Tel: 0191 373 4485 
  Officer 
  John Samuel, Group Finance Director 
 Walbrook PR (Financial PR &            Tel: 020 7933 8780 or hargreavesservices@walbrookpr.com 
  IR)                                                        Mob: 07980 541 893 / 07584 391 303 
  Paul McManus / Lianne Cawthorne 
 N+1 Singer (Nomad and Joint Corporate                                       Tel: 020 7496 3000 
  Broker) 
  Sandy Fraser/Justin McKeegan/Rachel 
  Hayes 
 Investec (Joint Corporate Broker)                                           Tel: 020 7597 5970 
  Sara Hale/David Anderson/Shalin 
  Bhamra

About Hargreaves Services plc ( www.hsgplc.co.uk )

Hargreaves Services plc is a diversified group delivering services to the industrial and property sectors, supporting key industries within the UK and South East Asia. The Company's business segments are Distribution and Services, Hargreaves Land and Hargreaves Services Europe Limited, which owns the Group's investment in a German joint venture. The largest segment is Distribution and Services, which provides materials handling and contracting services and logistics to a range of different business sectors together with specialist earthworks for major infrastructure projects. The property business is focused on the development of brownfield sites for both residential and commercial purposes. Hargreaves was formerly a coal mining company but ceased all mining activities in July 2020.

Offering a unique range of skills and services, Hargreaves provides unrivalled performance across their business in the Distribution, Services and Property Development sectors. Hargreaves is headquartered in County Durham and has operational centres across the UK, as well as in Hong Kong and a joint venture in Germany.

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April 06, 2021 02:00 ET (06:00 GMT)

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