One Heritage Group PLC (LON:OHG), a north-west focused property developer, has started trading on the London Stock Exchange after a placing to raise £930,000.
Shares were trading on the standard market at 11p in early dealings compared to the placing price of 10p.
One Heritage does both its own project developments and refurbishment, letting and property and facilities management on a third-party basis.
Developed or refurbished properties owned by the group are advertised to investors through a marketing network in Hong Kong.
Schemes of self-contained apartments are also marketed in Hong Kong or through a forward sale agreement to institutional investors.
Manchester is a particular area of focus, said One Heritage, as it is forecast to be one of the UK’s strongest performing cities over the next few years.
Development emphasis will be on edge of city centre locations where there are good transport links or where there is a major local employer to underpin demand.
