Development Securities sell properties

Development Securities has sold properties in Watford and Chorlton-cum-Hardy for 15.7m pounds. The company, in joint venture with Landchain, sold the first phase of a 3.4-acre mixed-use site in Watford to a house builder for £5.6m. At Chorlton-cum-Hardy near Manchester, Development Securities has sold the Chorlton Cross Shopping Centre to the Greater Manchester Property Venture Fund for £10.1m.Director Matthew Weiner said: "We are continuing to make good progress across our portfolio to execute our individual asset business plans and the announcement today further underlines our success in this regard. Both of these assets were acquired in 2011 and since then we have added considerable value through proactive asset management and enhancement."Shares rose 1.59% to 239.75p at 09:46 on Wednesday.RD