Acquisition of £5.3m Investment Asset

13 April 2015

Development Securities acquires investment asset in South East London for £5.3 million

Development Securities today announces the acquisition by Cathedral Group of a 3-acre site in The Royal Borough of Greenwich, London, for £5.3 million at a 4.4% initial yield. The site which benefits from 80 metres of Thames river frontage, is currently occupied by a building materials group with 9 years remaining on the lease, and presents several options for redevelopment in the medium-term. The site is in a key strategic location for Development Securities and Cathedral who have other significant regeneration projects in the area.

Richard Upton, Executive Director, Development Securities said: "Over the past year, we have disposed of a number of mature assets from within our investment portfolio, reinvesting into new opportunities where we see growth potential. Today's acquisition continues this process and adds to our portfolio a well-located investment asset with a secure long-term income stream with future redevelopment potential. The acquisition also underlines the synergies between Cathedral and Development Securities, which is creating a strengthened pipeline of investment and regeneration opportunities.''

For further information, please contact:

Richard Upton/Lucy Grimble, Development Securities PLC

020 7828 4777