14th May 2014 08:32
LONDON (Alliance News) - Property investment group Safeland PLC Wednesday said planning consent for its housing development on the Chandos Tennis Club in Golders Green, north London has not been granted due to a number of outstanding conditions which have yet to be agreed.
The company, which focuses on Greater London, said the contract remains subject to full planning consent being obtained. The planning application includes the relocation of the Chandos Tennis Club to an alternative facility on land currently owned by Safeland, which is included in the terms of the proposed sale.
Safeland signed a conditional sales contract with an unnamed housebuilder to develop the site last year and said it would be entitled to receive GBP13.2 million in staged payments over the next few years should the deal go ahead.
Safeland also said Wednesday that it has obtained a residential consent under permitted development right in relation to part of a property in Wimbledon which it acquired in 2013. Safeland plans to convert the property into 31 residential units for onward sale.
Safeland shares were quoted up 16% at 33.00 pence Wednesday, making it biggest gainer on AIM.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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