Sutton Harbour Group PLC on Friday said that it has exchanged on the sale of an apartment within its Harbour Arch Quay development to Beinhaker Design Services Ltd.

The Plymouth, England-based marine and waterfront regeneration specialist sold the property for £475,000, agreed at the original full marketed asking price in line with other apartments on the development.

The Harbour Arch Quay development comprises 14 apartments. The company has exchanged contracts on 13 apartments, including the apartment sale described above, while the final apartment has been reserved by a buyer and is subject to contract.

Given the sale counts as a ‘substantial property transaction’, it will need to be voted on by shareholders at Sutton Harbour’s next general meeting on October 12.

Sutton Harbour Group shares were trading 3.2% lower at 15.00 pence each in London on Friday morning.

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