U.K. property company Development Securities PLC (DSC.LN) Friday said it has bought a prime retail property in Cardiff, Wales, for GBP11.63 million, the latest in a run of similar-sized acquisitions.

The company said the property on Queen Street is made up of a shopping parade of eight units let to retailers, including Carphone Warehouse Group PLC (CPW.LN) and Abbey National PLC (ANL-LN), and has an income yield of around 8%.

Development Securities has spent around GBP40 million on real estate since it raised GBP100 million of equity in July.

Company Web site: www.developmentsecurities.co.uk

-By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com
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