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Springfield Properties PLC - Land sale accelerates acquisition settlement
SUMMARY
- Springfield's positive June trading update highlighted exceptional cash generation, which eliminated bank debt ahead of schedule.
- Today's announcement of the £12.0m sale of land equating to 170 plots at one of its sites in Central Scotland marks the end of its strategic land sale programme to unlock value from its substantial land bank through selective, profitable disposals.
- The proceeds have enabled the Group to settle the final deferred consideration relating to the June 2022 acquisition of Mactaggart & Mickel's housebuilding business significantly ahead of schedule, further strengthening the balance sheet and enhancing Springfield's capacity to invest in future opportunities.
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- Springfield Properties PLC - Land sale accelerates acquisition settlement17 Aug 2026
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