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UAI U And I Group Plc

148.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
U And I Group Plc LSE:UAI London Ordinary Share GB0002668464 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 148.50 148.50 149.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Development Securities PLC Acquisition of £5.3m Investment Asset (8854J)

13/04/2015 7:00am

UK Regulatory


U And I (LSE:UAI)
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RNS Number : 8854J

Development Securities PLC

13 April 2015

13 April 2015

Development Securities acquires investment asset in South East London for GBP5.3 million

Development Securities today announces the acquisition by Cathedral Group of a 3-acre site in The Royal Borough of Greenwich, London, for GBP5.3 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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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