Edwin Coe advises on equity raise to enable listed UK residential developer to purchase new development project

Edwin Coe is pleased to announce that it has advised Hybridan LLP, the well known small cap broker and longstanding client of corporate partner Daniel Bellau, as financial adviser and broker in the successful completion of an equity placing for One Heritage Group plc.

The transaction proceeds will be used by One Heritage to help finance the acquisition of Plus House, Stockport. The property is currently used as an office but has been acquired with planning approval to convert three floors into twelve apartments with approximately 2,500 square foot of office space on the ground floor and the option to add an extension which would create a further three apartments. The project is expected to complete in mid-2022 and should return a gross development value on completion of GDP £2.3m.

The Edwin Coe team was led by Daniel Bellau, who has advised Hybridan for over 10 years and last acted for them on the IPO of One Heritage Group PLC onto the Standard List of the London Stock Exchange in December 2020.

Daniel commented “I am delighted to have worked once more with my colleagues at Hybridan on this transaction. I am very proud of our successful long-term working relationship ensures that we can deliver best value to listed clients. It is also gratifying to see One Heritage push forward with its development plans following last year’s IPO.”

You can read One Heritage Group’s press release in full here.