Matthew Weiner, Director of Investments at Development Securities said: "These disposals were stock selective since we consider that the proceeds can be re-invested elsewhere in the market with improved performance potential. The disposals increase our average lot size in the remaining portfolio to £4 million, close to our medium term objective.
Weiner said the company's target was to grow its investment portfolio to £150 million ($230 million). This would help underpin the balance sheet while the company continued its extensive development programme.
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