Development Securities today announced the acquisition of an office block in Woking for £6.6m, meaning it has spent more than £225m in 18 months.
The deal for Elizabeth House and The Cornerstone in the Surrey town represents a yield of 6.8%.
Since July 2009, Development Securities has spent more than £225m after completing the first of its two recent £100m equity raises.
A statement to the stock market said the deal “is part of the directors’ continuing strategy to strengthen the company’s investment property portfolio in the current market, including those assets which may in the longer term represent redevelopment potential”.
Nick.whitten@estatesgazette.com
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