OTHER NEWS

HMG SET TO REALISE RETAIL OPPORTUNITIES IN BURTON

EARLY PLANS SUBMITTED FOR PRESTWICH REDEVELOPMENT

HMG APPOINT RICKITT MITCHELL DIRECTOR AS CHAIRMAN

HMG SEALS QUICK DEAL DESPITE COMMERCIAL PROPERTY SLOW-DOWN

REPORTING ON A SUCCESSFUL YEAR

HMG ACQUIRES AT AUCTION

HMG ACQUIRES AGAIN IN WREXHAM

MAY 2007
REPORTING ON A SUCCESSFUL YEAR

It has been a very satisfactory year for leading North West property investment company, Hollins Murray Group Limited. Despite an increase in the cost of borrowing, profit before tax was 45% higher at £3.7million. The biggest contribution to this was made by the sale of investment properties in Pepper Street, Chester for £15.35 million to the Mall Corporation.

HMG have remained acquisitive throughout the year, acquiring the long leasehold interest in the Longfield Centre, Prestwich for £4.35 million and adding to their existing estate in Wrexham with the purchase of 53a/54 Hope Street in an off market transaction for £1.425 million. This property is fully let to three tenants including Timpsons and Greggs.

Comments Chief Executive of HMG, Andrew Murray, "The Group remains in a very strong position with a significant war chest for when and if the right opportunity presents itself".

Net Asset value stood at just over £60 million at the year end, an increase of 3.6% despite the sale of Pepper Street, and the Group generated significant cash during the year.

Adds Tom Marshall, Chairman,"This has been an excellent year for HMG and the results are something of which we are all proud. The Board offers its thanks to Andrew, Nick and Ian and to all at HMG who have worked so hard and so effectively over the year."