One Heritage Group plc: Trading update and Directorate Change
Retrieved on:
Thursday, December 23, 2021
Emerald, Vulnerability and Risk Committee, Construction, Heritage Tower, Central Electricity Generating Board, Audit, Lincoln House (Mumbai), Robin Hood, Review, County court, CFO, Bank Street, IPO, Lincoln House, Board, Association, Company, Safety, Non-executive director, Real estate, Security (finance), Churchgate, Group
A subsidiary of the Group, One Heritage Bank Street Limited, which holds the Bank Street development, terminated the build contract with Emerald Construction (North West) Limited following a thorough review of its performance.
Key Points:
- A subsidiary of the Group, One Heritage Bank Street Limited, which holds the Bank Street development, terminated the build contract with Emerald Construction (North West) Limited following a thorough review of its performance.
- Post termination of the build contract, the Group incorporated One Heritage Construction Limited which will undertake the construction work directly.
- In October, the Group successfully achieved revised planning consent for a redesign of One Heritage Tower, the 55 storey residential development in Salford.
- This agreement covers a combination of management, transaction, sourcing and construction services and will provide regular income to the Group.