19th Dec 2005 07:01
Development Securities PLC19 December 2005 Development Securities announces sale of Unit P at Southampton International Business Park Development Securities PLC announced today that it has sold Unit P atSouthampton International Business Park to an in-house investor of Egan Lawsonfor £5.713 million. The price reflects a net initial yield of 6%, generating anet surplus of approximately £1.1 million over the current book value. The office building, which comprises 25,000 sq ft over two floors, was acquiredby Development Securities in 2002 at a cost of £3.65 million. Located next tothe Southampton International Airport, it is let to Regus until May 2016. Griffiths Eccles acted for Development Securities. Enquiries: Matthew WeinerDevelopment Securities 020 7828 4777 Alison HowardThe Communication Group plc 020 7630 1411 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
UAI.L