Development Securities: Pre-Lease Signed With Morrisons For Food Store
March 01 2012 - 4:15AM
Dow Jones News
Development Securities PLC (DSC.LN), the property developer,
Thursday announced that it has signed an agreement with Morrisons
for the pre-lease of an 80,000 sq ft food store, subject to
planning, at its 7 acre mixed use redevelopment site at 399 Edgware
Road, North West London.
MAIN FACTS:
-Development Securities is currently preparing a revised
planning application to be submitted later this year for a scheme
now to be anchored by Morrisons and which will include new Asian
retail space and residential apartments, including affordable
housing.
-399 Edgware Road is the former site of Oriental City, an Asian
retail and food centre.
-The site was purchased by Development Securities in 2005.
-Shares at 0945 GMT down 1.5% at GBP1.7 valuing the company at
GBP206 million.
-By Jana Weigand, Dow Jones Newswires; 44-20-7842-9314;
jana.weigand@dowjones.com
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