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16 Dec 2010 07:00
16 December 2010
Development Securities PLC acquires £4.025m Burnley investment
Development Securities PLC, the UK's leading property development and investment company, today announces that it has acquired a leisure park in Burnley for £4.025m, reflecting a net initial yield of 8.20%. 71% of the income is secured to Apollo Cinemas Ltd for a further 21 years with the remainder to Punch Taverns Ltd for a further 13 years, giving a weighted average unexpired lease term of 18 years.
The park offers scope to add value through improvements to the premises and addition to the park's restaurant offer.
Enquiries:
Michael Marx/Matthew Weiner
Development Securities PLC Tel: 020 7828 4777
Richard Evans/Lucy Grimble
The Communication Group plc Tel: 020 7630 1411
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