Town Centre Securities on track despite challenging market
Town Centre Securities, the Leeds based property investment and development company, said today its third-quarter performance remained in line with its expectations, despite challenging times for the property sector.
The firm is behind the Eastgate Quarter and Whitehall Riverside developments in Leeds, and also operates Harrogate's West Park and the Leeds Merrion Centre.
Chairman Edward Ziff said: "We believe that difficult conditions are likely to remain for some time and will restrict significant investment in new projects."
The company said the impact of problems in the banking and financial system on direct property investment had been significant and it did not believe it had fully worked through the system.
"We remain committed to optimising our existing portfolio, managing our major development schemes and adding to our portfolio where suitable opportunities emerge," Mr Ziff said.
The firm sold two properties in Newcastle and York for a total of more than £4m during the period.
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Last Updated:
14 May 2008 9:43 AM
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Source:
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Location:
Yorkshire
