Statement re City Park completion

15 Oct 2009 07:00

15th October, 2009

Development Securities announces practical completion of CityPark development in Manchester

Development Securities PLC, the leading property development and investment company, today announced its 147,000 sq ft prime office CityPark development in Manchester, also known as The Peninsula, attained practical completion in September. Development Securities has now received the balance of the consideration, in the sum of £42M, from the purchaser.

CityPark comprises a 13 storey Grade A office building adjacent to a new 250 room Park Inn hotel which opened in June 2009. The office building has been designed with large open plan floor plates, offering the flexibility to create an environment tailored to individual requirements. The building provides commanding views over the city centre and its prominence will ensure CityPark quickly becomes identified as a key part of Manchester's urban fabric.

Further enquiries:

Julian Barwick Development Securities PLC Tel: 0207 828 4777 Mallika Basu/Lucy Grimble The Communication Group plc Tel: 0207 630 1411