Acquisition of 18 acre site in Hayes

Cathedral Group and Development Securities acquire former EMI/His Masters Voice HG in Hayes

Specialist PPP developer Cathedral Group plc and leading property developer and investor, Development Securities plc, today announce that they have acquired the London Gate business park in Hayes, Middlesex, in joint partnership and will shortly announce plans for a radical £250m redevelopment of the 18-acre site.

The property has been acquired from JER Partners, The Blackstone Group and Resolution in a cash deal with Cathedral taking one third of the equity and Development Securities the other two thirds.

For further information:

Mallika Basu/Lucy Grimble

The Communication Group 0207 630 1411