Land Securities Group PLC ("Land Securities")
Land Securities' London Portfolio investor conference activity update
Today Land Securities will be hosting an investor conference focused on the London Portfolio and will be updating on recent activity as listed below.
Activity since 31 March 2016:
· 126,000 sq ft of development lettings secured.
· 1&2 New Ludgate, EC4 is now 96% let.
· 20 Eastbourne Terrace, W2 is now 90% let.
· The Zig Zag Building, SW1 is now 89% let.
· Nova, Victoria, SW1 is now 35% pre-let.
· 414,000 sq ft of development space remains to be let (LS economic interest: 233,000 sq ft).
· Kings Gate, SW1: three apartments have been sold since 31 March 2016. In total, 89 of the 100 apartments have now been sold.
· The Nova Building, SW1: two apartments have been pre-sold since 31 March 2016. In total, 139 of the 170 apartments have now been pre-sold.
Colette O'Shea, Managing Director for Land Securities' London Portfolio commented: "The business is in great shape. We have long income streams, high quality assets and the firepower to take advantage of future opportunities as they arise.
"The focus for the London Portfolio is on letting the remaining development space and extracting reversion from the portfolio while also addressing our customers' future needs and restocking the portfolio with new product."
A copy of the presentation will be available on the Land Securities website: www.landsecurities.com
Notes to editors:
Land Securities is the UK's largest listed commercial real estate company. Our £14.5 billion portfolio totals 23.6 million sq ft and includes some of London's most desirable office buildings and the UK's most successful shopping and leisure destinations.
In London, we own and manage a portfolio totalling more than £8.2 billion. Our relentless customer focus delivers vibrant working environments, both in our developments and through thoughtful asset management, which resonate strongly with businesses looking to attract and retain top talent. In the City, our 1.7 million sq ft of real estate includes the award-winning New Ludgate scheme, and the landmark 20 Fenchurch Street. In the West End, our expertise in placemaking and public realm has seen the transformation of Victoria, SW1 into a vibrant destination that is attracting global businesses and visitors alike.
In Retail, our commitment to creating an outstanding consumer experience, combined with the strength and resilience of our 17.5 million sq ft of assets, means we provide the space where consumers want to shop and retailers want to be, both now and in the future. Our focus on collaborating with our retailers and anticipating consumer needs not only delivers an unrivalled experience for our customers, but our footfall and sales figures consistently outperform the industry benchmarks.
Whether in offices or retail, sustainability is key to everything we do. For us, being a sustainable business means ensuring Land Securities remains healthy and successful for years to come. To achieve this we need the support of our customers, communities, partners and employees. That's why we lead the way on sustainability in the UK listed real estate sector by focusing on three key areas: creating jobs and opportunities through our award-winning Community Employment Strategy, which has put over 800 disadvantaged people into employment since 2011; efficient use of natural resources; and sustainable design and innovation.
Land Securities delivers value for our shareholders, great space for our customers and positive change for our communities.
For further information, please contact:
Land Securities Group PLC
T: +44 (0)20 7024 5185
This information is provided by RNS