Sutton Harbour Group PLC Annual General Meeting Statement (0769N)
September 27 2021 - 6:41AM
UK Regulatory
TIDMSUH
RNS Number : 0769N
Sutton Harbour Group PLC
27 September 2021
27 September 2021
Sutton Harbour Group plc (the "Company")
Annual General Meeting Statement
The Chairman of Sutton Harbour Group plc will issue the
following update to shareholders attending today's AGM.
Since my last report on trading in early July, I am pleased to
update investors that trading throughout Summer 2021 has benefited
from the strong recovery in visitor numbers to Sutton Harbour. Car
park revenues are now at least at pre-Covid levels and it has been
another record season for berthing in the Group's two marina
facilities. Sutton Harbour Marina has reached 100% occupancy with
King Point Marina achieving 93% occupancy and both marinas now have
waiting lists. The Group will launch bookings for the 2022/23
marina season, which starts on 1 April 2022, in November and
expects the strong demand to continue. Plymouth Fisheries trading
has shown some slow, but steady, improvement since last year.
Occupation of the Company's commercial estate has been consistent
with just two properties currently unlet, one being the building
formerly let to Edinburgh Woollen Mill. The Company intends to
convert these premises into three 2,500 ft units, with two units
already reserved for national covenant tenants and the third is
being actively marketed.
Construction of the 14 apartment building, Harbour Arch Quay, is
due to start next month. Separate development financing has now
been agreed and marketing of the apartments will begin once
construction starts. The building, which also accommodates 1,163 sq
ft commercial space on the ground floor, will take 12 to 14 months
to complete.
Refinement of the plans for new developments on the newly
acquired 13-15 Sutton Road site has continued and it is now
expected that the Local Authority Planning Committee will determine
consent status early in 2022. Earlier this month the Group acquired
a small site immediately adjacent to 13-15 Sutton Road which has
allowed improvements to the original access and scheme design for
the site.
The Board was delighted with the response from a broad range of
shareholders who participated in the Open Offer in August 2021.
GBP3.5m new equity capital was raised to assist with the Harbour
Arch Quay development, acquire the further Sutton Road site and
improve the working capital position of the Group.
The Interim Results for the 6 month period to 30 September 2021
are due to be published in early December 2021.
Enquiries
Sutton Harbour Group plc +44 (0) 1752 204186 Philip Beinhaker, Executive Chairman
Corey Beinhaker, Chief Operating Officer
Natasha Gadsdon, Finance Director
Arden Partners (NOMAD and Broker) +44 (0)20 7614 5900 Paul Shackleton, Akhil Shah
Notes to Editors
Sutton Harbour Group plc (SUH) is an AIM listed company
specialising in marine operations, waterfront regeneration and
destination creation in Plymouth and South West England.
The Company operates Sutton Harbour Marina, King Point Marina
and Plymouth Fisheries. Operational activities include mixed-use
lettings, car parking and support services to harbour users,
property management and regeneration and asset enhancement.
Sutton Harbour Group plc is committed to being the leading
marine and waterfront regeneration specialist in Southern England,
and to positioning Sutton Harbour in Plymouth as a destination of
national interest.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGMLRMMTMTITBMB
(END) Dow Jones Newswires
September 27, 2021 06:41 ET (10:41 GMT)
Sutton Harbour (LSE:SUH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sutton Harbour (LSE:SUH)
Historical Stock Chart
From Apr 2023 to Apr 2024