DevSec launch rights issue

Development Securities have announced a £100m rights issue to take advantage of market difficulty in getting access to capital.

David Jenkins, Development Securities chairman, said: We continue to be well placed to take advantage of the dislocation in the UK property market caused by the difficulties that the market is experiencing in obtaining access to capital, both equity and debt.”

“We believe that our expertise combined with our robust balance sheet and prudent business model will enable us to deploy the proceeds of the fundraising into new development and investment opportunities in a timely and effective manner to maximise shareholder returns.

DevSec have sites in Hammersmithand on the Edgware Road.

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