25 May 2012

Sainsbury deal cheers Terrace Hill

27/10/2010 Robert Tyerman

Property group Terrace Hill has agreed a 30,000 sq ft. supermarket deal with Sainsbury in Whitchurch, Shropshire.

The Glasgow-based company, which conditionally acquired the site in London Road, near the town centre of Whitchurch in March, says it intends to submit a planning application later this year for a supermarket with more than 300 parking spaces.

AIM-quoted Terrace Hill is revealing no financial figures for the deal, which follows a pre-letting agreement with Sainsbury in Sunderland and other supermarket deals in Bishop Auckland, Helston and Manchester. The company's shares, which have traded between 25p and 16.25p over the past year, now change hands at 17.5p, up 1.25p today, valuing the company at £37 million.

Tags: AIM, Deals & contracts, Growth Stocks

Sector: Real Estate

Companies: Terrace Hill

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