Source - SMW
AIM-quoted Terrace Hill Group has acquired the remaining residential assets of Terrace Hill Residential (THR) for £5.3 million, and plans to sell the units piecemeal.

Terrace Hill Group agreed to acquire these assets to reach a negotiated settlement with the lender to THR as regards its guarantee exposure to that lender.   

THR was Terrace Hill's residential investment joint venture in which it owned a 49% interest. The balance of the interest in THR was beneficially owned by the chairman of the group.  

The assets consist of 47 units in Scotland, Manchester, Bristol and Minehead. Terrace Hill Group intends to dispose of these units on a piecemeal basis to owner occupiers, continuing the process adopted by THR prior to the Group's purchase.  

At 8:04am: (LON:THG) Terence Hill Group share price was 0p at 20p

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