22 Mar 2011 07:00
22 March 2011
Development Securities PLC acquires office in Woking
Development Securities PLC, the leading property development and investment company, today announces it has acquired an office property, Elizabeth House and The Cornerstone, Woking, for £6.55 million, yielding 6.8 per cent.
The property comprises a well located office offering a good income stream with long term redevelopment potential.
The acquisition is the latest in a series of transactions that total in excess of £225 million to date since July 2009, when Development Securities completed the first of its two recent £100 million equity raises. It is part of the Directors' continuing strategy to strengthen the company's investment property portfolio in the current market, including those assets which may in the longer term represent redevelopment potential.
For further information, please contact:
Michael Marx/Matthew WeinerDevelopment Securities PLC Tel: 020 7828 4777Richard Evans/Lucy GrimbleThe Communication Group plc Tel: 020 7630 1411