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Share Name Share Symbol Market Type Share ISIN Share Description
U And I Group 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
  +1.00p +0.53% 189.00p 188.50p 189.25p 189.25p 187.25p 187.25p 54,193 16:35:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 242.3 25.8 17.5 10.8 236.16

Development Securities Acquires Real Estate in Romford for GBP8.3M

11/07/2013 8:24am

Dow Jones News

U And I Group (LSE:UAI)
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LONDON--Development Securities PLC (DSC.LN), a property developer and investor, Thursday announced the 8.3 million pound acquisition of Tollgate House and Market Place in Romford, Greater London, from administrators acting on behalf of Lloyds Banking Group.


-Total acquisition of 104,400 square feet of mixed-use real estate and includes the part-freehold and part-long leasehold of three real estate assets with development potential

-Market Place comprises 44,300 square-foot of retail space, which is 78% let to national and local retailers, and 69 residential apartments.

-A part-built development at Market place will take GBP3.2 million and nine months to complete, and will include 35,200 square feet of further retail space and another 22 residential apartments

-Tollgate House has 8,100 square feet of office space and 2,500 square feet of retail space; the building is 93% let with plans to increase occupancy and enhance income through minor refurbishment works

-The blended initial yield across the assets is currently 8.01% with a weighted average lease length of 13.1 years

-Shares at 0750 GMT up 1 pence, or 0.64%, at 197 pence valuing the company at GBP239.53 million.

Write to Nick Kostov at nick.kostov@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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