Personal property in an area of property development (6)
I believe the answer is:
estate
I believe this clue is a quadruple definition!!
'personal property' is the first definition.
(estate is a kind of personal property)
'in' is a link.
'an area' is the second definition.
(I have seen 'Industrial area' mean 'estate' so perhaps 'area' could also mean 'estate')
'of' is a link.
'property' is the third definition.
(estate is a kind of property)
'development' is the fourth definition.
(thesaurus)
(Other definitions for estate that I've seen before include "Family land" , "One's property after death" , "Houses - car" , "Property with large grounds" , "Housing area" .)