Development Secs.PLC - Disposal Completed

RNS No 8009h
DEVELOPMENT SECURITIES PLC
1st July 1997

               DEVELOPMENT SECURITIES SELLS
          INVESTMENT PORTFOLIO FOR #7.25 MILLION
                             
Development Securities PLC is pleased to announce that  it
has   today   completed  the  sale  of  three   investment
properties   to  a  group  consisting  of  T  R   Property
Investment  Trust  and  Lathe Investments  Ltd  for  #7.25
million.   The properties comprised in this sale were  The
Colonnades,  a mixed use island site in Bayswater,  London
W2,  and  two retail warehouses in Preston and  Lancaster.
The  sale,  at close to book values, reflects  an  overall
yield of 9.5%.

The  receipt of these sale proceeds coupled to the  recent
payment  of  some development profits from the Milton  and
Shire  House development, has reduced the overall  balance
sheet gearing to a level of approximately 100%.

Healey   and   Baker   acted  for  the  purchaser   whilst
Development  Securities  represented  themselves  in   the
investment sale.

Michael   Marx,   Group  Managing  Director,   Development
Securities PLC, commented:

"This   disposal  forms  part  of  the  active  management
programme of our investment portfolio.  It further enables
us  to  focus on those properties and developments  within
our existing group, as well as new opportunities where  we
are   able   to   add  value  for  the  benefit   of   our
shareholders."

                             
Enquiries:

Michael Marx,
Group Managing Director
Development Securities PLC:        0171 828 4777

Henry Faure Walker,
The Communication Group plc:  0171 630 1411



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