Sutton Harbour shares slide on East Quays site update

Shares in AIM-listed Sutton Harbour slid on Friday after the company issued an update regarding its East Quays site in Plymouth.

Shares in AIM-listed Sutton Harbour slid on Friday after the company issued an update regarding its East Quays site in Plymouth.

The company had previously reported that approximately one third of the site had been reserved for the development of new premises for the BBC.

The company holds live planning consents for two development options for residential and commercial space on the site.

As a result of delays to the overall development the company said it had recently been advised that the BBC no longer intended to relocate to Sutton Harbour.

Consequently, the company reported that it and the BBC had finalised terms to extinguish all previous agreements between them in connection with the site without incurring further material costs to either party.

Sutton Harbour said it was following up other lines of interest.

Shares in Sutton Harbour were down 6.0% to 23.50p at 14:23 on Friday.

MF

Recommended

Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Three hidden gems from Japan’s overlooked stockmarket
Share tips

Three hidden gems from Japan’s overlooked stockmarket

Professional investor Eiji Saito of JPMorgan’s Japan Small Cap Growth & Income fund picks three promising stocks from Japan's vibrant but under-resear…
13 Sep 2021
Share tips of the week – 10 September
Share tips

Share tips of the week – 10 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
10 Sep 2021

Most Popular

Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021
How you can profit from the power of the grey pound
Share tips

How you can profit from the power of the grey pound

Higher life expectancy and surging asset prices have proved a boon for the baby-boomer generation, which has accumulated vast wealth. Younger generati…
10 Sep 2021