steady news flow suggests further upwards movement in their sp, nav 250p dyor.

Halifax, I've been watching these for a while nearly bought after the fall in April - unfortunately I didn't and am still watching.

sp up today as PI's recognise it is undervalued, next stop 200p.

sp 180p going well.

sp 191p up 11% so far today!

sp 200p+ hope you were on board!

interim results due on Tuesday 22 October 2013.

sp nearing 220p following results nice profit!

sp finished @225p up 11%, an excellent day.

sp 241p going like a train!

Interims on 22 Oct 14.

Interim Management Statement

Highlights

Financial
· Profit before tax and exceptional items* of £18.0 million (31st August 2013: £8.1 million)
· Basic NAV increased by £15.2 million (4.7 per cent increase) to £335.5 million, equivalent to 269 pence per share (28th February 2014: £320.3 million, 262 pence per share)
· £18.2 million of development and trading gains (31st August 2013: £13.3 million)
· £4.1 million (2.6 per cent) increase in value of investment portfolio (31st August 2013: £1.0 million decrease)
· Interim dividend of 2.4 pence per share declared (31st August 2013: 2.4 pence per share)

Corporate
· Acquisition of Cathedral Group:
o Brings additional expertise to the Group
o Adds 9 new projects to our pipeline
· Strong deal flow since 28th February 2014 to recycle capital into new projects:
o 11 disposals - £127.2 million
o 11 acquisitions - £179.4 million


more..

Director/PDMR Shareholding

Toying with £2.

Company Secretary Appointment

Development Securities PLC is pleased to announce the appointment of Chris Barton as Company Secretary with immediate effect. Marcus Shepherd, Finance Director, who has been Company Secretary since 1 September 2014 is relinquishing the role with immediate effect.

Chris is joining the Company from Babcock International Group PLC which he joined in 2012. Prior to this Chris worked at Cable and Wireless Worldwide and Prudential PLC.

Development Securities and Property Alliance Group secure planning permission for 27-storey residential development in central Manchester

Development Securities in a 50:50 JV with Manchester-based developer, Property Alliance Group, today announces that Manchester City Council has resolved to grant planning permission for a 172-unit residential tower. The iconic new development, known as Axis Tower, will deliver a 27-storey, 153,000 sq. ft. building on a 0.2-acre site in central Manchester.

Adjacent to Deansgate and Manchester Oxford Road stations, Axis Tower is well-located, being close to the campuses of both Manchester and Manchester Metropolitan University, the city's main retail and commercial areas and with good access to a number of transport links. The site is vacant and 'shovel ready' with some enabling works having already been completed to prepare the site for development. With planning permission now secured, the JV partners anticipate a start on site in early 2015 with practical completion targeted for Q4 2016 and an estimated total development cost of £40 million.

Interest in the luxury one, two and three-bed apartments is already strong, with over half of the units reserved for pre-sale.

Matthew Weiner, Director, Development Securities said: "Axis Tower is a significant development opportunity for us and will deliver an iconic new residential building in the heart of Manchester. With planning now secured, we look forward to progressing the project to the next phase with a start on site anticipated in early 2015. The joint venture between Property Alliance Group and ourselves represents a powerful partnership, with extensive experience of the Manchester property market and a strong track record in delivering high quality developments that create vibrant new neighbourhoods."

Funding secured for development of food store at 399 Edgware Road

Development Securities today announces that it has signed a £41.0 million agreement with clients of Aberdeen Asset Management to forward-fund the development of an 81,000 sq. ft. food store at 399 Edgware Road. The food store, pre-let to Morrisons, will anchor the £150 million mixed-use regeneration scheme and represents the first stage of development at this significant non-income producing legacy asset.

The funding agreement will release £10.0 million of cash immediately for the land cost of the development site and a further £2.8 million in respect of costs incurred to date since planning was achieved. The construction of the Morrisons food store is now underway with practical completion anticipated in September 2015. Upon the successful delivery of the food store, Development Securities will receive an estimated balancing payment of £5.0 million, representing a profit over the £10.0 million book value of this element of the project.

more..

GBP12.3m disposal of investment asset in Bristol

Development Securities sells Colston Tower in Bristol for £12.3 million

Development Securities today announces that it has sold Colston Tower, an 89,000 sq. ft. office building located in the centre of Bristol, to Resolution Property for £12.3 million, equivalent to an exit yield of 8.25%. The sale of this investment asset will realise a profit of £2.0 million for the Company in line with expectations.

Development Securities acquired Colston Tower in a 75:25 joint venture with Ellandi in 2011 for £7.6 million at a 10.08% initial yield. Since acquisition, the joint venture partners have invested a further £1.9 million on refurbishments and improvements within the building. These improvements have enabled headline rental levels to increase from £9.50 psf to £14.50 psf over the period of ownership and 90% of tenants with lease expiries or breaks have renewed.

Matthew Weiner, Executive Director, Development Securities said: "We have added significant value to Colston Tower during our ownership, improving the quality of the building and thus increasing rental values and improving occupancy levels. The profitable sale of this asset will allow us to recycle capital into further investment opportunities where we see strong potential to generate value."

Mark Robinson, Investment Director, Ellandi added: "We have executed and then exceeded our business plan for this investment showing that good asset management principles can be applied across different sectors to achieve outstanding returns."

Residential funding secured at 399 Edgware Road

Residential joint venture at Telegraph Works

Development Securities today announces that its wholly owned subsidiary, Cathedral Group (Cathedral) has signed a joint venture agreement with Weston Homes to undertake a residential-led regeneration development at the Telegraph Works site on the Greenwich Peninsula in London.

Under the terms of the transaction, Weston Homes will pay an initial £19.1 million for the majority of the land on which it will construct 256 apartments and 16 townhouses. This initial disposal realises profits of circa £9.0 million to Development Securities with further profits to be generated upon disposal of the completed townhouses.

GBP19.2m acquisition of Newcastle retail scheme

Development Securities completes recycling of investment portfolio with acquisition of 185,000 sq. ft. convenience retail investment asset in Newcastle

Development Securities today announces that it has acquired the non-foodstore element of The Killingworth Centre, a convenience retail shopping centre near Newcastle from Wm Morrison Supermarkets plc for £19.2 million at an 8.27% net initial yield.

Completed in 2000, The Killingworth Centre is the principal retail destination within Killingworth, a suburban commuter town 5 miles from Newcastle City Centre. The covered shopping centre is the principal retail and leisure destination for the local community, comprising a 73,000 sq. ft. Morrisons foodstore, a 70,000 sq. ft. Matalan and 28 further retail units totalling 106,000 sq. ft. which are let to a range of national and local operators including Poundworld, Wilkinson, Card Factory and Boots. The Morrisons foodstore will remain outside of Development Securities' ownership. The shopping centre is currently fully occupied with a weighted average unexpired lease term of 5.1 years and offers a number of asset management opportunities.

Trading statement and special dividend

· Business on track to hit management expectations for the full year
· Special dividend of £10.0 million (8.0 pence per share) to be paid in addition to the final year dividend
· As separately announced today, Michael Marx to stand down as CEO. Matthew Weiner to be appointed as CEO and Richard Upton to be appointed as Deputy CEO.