It has emerged today that Elliott Bernerd and Sir Stuart Lipton’s Chelsfield Partners is building up a stake in Development Securities.

It has emerged today that Elliott Bernerd and Sir Stuart lipton’s Chelsfield Partners is building up a stake in Development Securities.

In a stock exchange announcement today DevSec said Chelsfield had increased its shares in the company from 1,209,250 to 1,498,250 which pushed its stake in the company over the 3% mark to 3.66%. DevSec’s shares rose 1.6% after the announcement.

A Chelsfield Partners spokeswoman was unable to comment it Chelsfield planned further investment in the company and said: ‘This is purely a long term investment move.’

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