Overview
Land Securities is a REIT that owns, develops and manages offices, shopping centres and retail parks in the UK. You can access the company’s website here
Fundamentals
Price
Research History
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19 Jun 2024 12 min read
QuotedData’s Real Estate Monthly Roundup – June 2024
June 2024 Winners and losers in May 2024 Best performing funds in price terms (%) Capital & Regional 22.0 Safestore 16.4 Big Yellow Group 15.6 Derwent London 13.2 British Land 12.8 Helical 9.8 Phoenix Spree Deutschland 9.2 Shaftesbury Capital 8.2 Workspace 7.5 SEGRO 7.5 Source: Bloomberg, Marten & Co Worst performing funds in price terms […]
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22 Jan 2024 10 min read
QuotedData’s Real Estate Annual Review – 2023
Real Estate Annual Review Kindly sponsored by abrdn Things can only get better The real estate sector endured a tough 2023, with much of the year characterised by falling values amid the high interest rate landscape. Values have since stabilised across sub-sectors. Optimism returned in the final couple of months of the year, on promising […]
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19 Jan 2024 9 min read
QuotedData’s Real Estate Monthly Roundup – January 2024
Real Estate Roundup Kindly sponsored by abrdn Performance data December’s biggest movers in price terms are shown in the charts below. A challenging 2023 for the real estate sector was rounded off on a positive footing, with a median average share price increase of 7.1% across the listed sector in December (down 6.3% in the […]
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13 Dec 2023 15 min read
QuotedData’s Real Estate Monthly Roundup – December 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data November’s biggest movers in price terms are shown in the charts below. Property stocks bounced back in November after a difficult few months, with the median share price across the sector up 8.2%. Investor sentiment towards the sector improved as hopes that interest rates have hit […]
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11 Aug 2023 10 min read
QuotedData’s Real Estate Monthly Roundup – August 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data July’s biggest movers in price terms are shown in the charts below. Better than expected inflation figures in the UK raised hope that interest rates had peaked, and that commercial property values may have bottomed out. Improving investor sentiment towards the sector was reflected in an […]
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13 Jun 2023 15 min read
QuotedData’s Real Estate Monthly Roundup – June 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data May’s biggest movers in price terms are shown in the charts below. The property sector is a hotbed of merger and acquisition (M&A) activity as investors look to take advantage of the unloved sector and wide discounts to net asset values (NAVs). Higher than expected inflation […]
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25 Apr 2023 8 min read
QuotedData’s Real Estate Quarterly Review – First Quarter 2023
Real estate quarterly report Kindly sponsored by abrdn Headwinds mount up The headwinds facing commercial real estate continued to mount up in the first quarter of 2023, reflected in an 8.9% average share price fall across the sector. Already reeling from the impact of higher interest rates on valuations, the collapse of Silicon Valley Bank […]
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06 Apr 2023 13 min read
QuotedData’s Real Estate Monthly Roundup – April 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data March’s biggest movers in price terms are shown in the charts below. Property stocks tumbled further in March as stubborn inflation and a further interest rate hike was announced by the Bank of England. The median average share price fall across the sector was 7.9%. Perhaps […]
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09 Feb 2023 7 min read
QuotedData’s Real Estate Monthly Roundup – February 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data January’s biggest movers in price terms are shown in the charts below. 2023 started positively for the property sector, with a median average share price uplift of 1.3%. A gloomy economic outlook at the end of 2022 saw many property companies’ share prices fall to substantial […]
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24 Jan 2023 10 min read
QuotedData’s Real Estate Annual Review – 2022
Real Estate Annual Review Kindly sponsored by abrdn The year the rug was pulled out 2022 will be remembered as the year that the rug was pulled from under the property sector. Having benefitted from decades of low interest rates, which had fuelled debt-ladened deals and piqued the appetite of global investors looking for more […]
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07 Dec 2022 64 min read
QuotedData’s Economic and Political Monthly Roundup December 2022
Economic and Political Monthly Roundup Investment companies | Monthly | December 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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12 min read
QuotedData’s Real Estate Roundup – December 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data November’s biggest movers in price terms are shown in the charts below. Valuation declines in the property sector are starting to feed through in NAV announcements and interim results (see page 2) as higher cost of debt continues to put pressure on pricing. Having seen dramatic […]
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03 Nov 2022 8 min read
QuotedData’s Real Estate Roundup – November 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data October’s biggest movers in price terms are shown in the charts below. Having priced in a major write-down of portfolio valuations in the real estate sector, especially after interest rate expectations rocketed following the disastrous mini-budget at the end of September, the market seems to have […]
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14 Oct 2022 8 min read
QuotedData’s Real Estate Quarterly Review – Third Quarter 2022
Real estate quarterly report Kindly sponsored by abrdn Choppy waters ahead High interest rates is a killer for real estate, and so the chancellor’s disastrous ‘mini budget’ at the end of September – which spooked gilt markets and saw interest rate forecasts for next year top 6% – had a catastrophic impact on the listed […]
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06 Oct 2022 10 min read
QuotedData’s Real Estate Roundup – October 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data September’s biggest movers in price terms are shown in the charts below. The real estate sector is facing the perfect storm. Fears that interest rate rises will be higher and faster as the Bank of England looks to quell inflation, exacerbated by the chancellor’s disastrous ‘mini […]
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04 Aug 2022 10 min read
QuotedData’s Real Estate Roundup – August 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data July’s biggest movers in price terms are shown in the charts below. Many of the logistics and office focused companies that have suffered in the past few months saw somewhat of a recovery in July, as the substantial discounts that their share prices trade at relative […]
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15 Jul 2022 8 min read
QuotedData’s Real Estate Quarterly Review – Second Quarter 2022
Real Estate Quarterly Review Kindly sponsored by abrdn Storm clouds gather Fears that a perfect storm is brewing has weighed on the real estate sector. Central banks’ move to raise interest rates to curb spiralling inflation has stoked concerns that investors will turn away from real estate to less risky alternatives, such as bonds. Meanwhile […]
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07 Jul 2022 15 min read
QuotedData’s Real Estate Roundup – July 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data June’s biggest movers in price terms are shown in the charts below. There were only a handful of property companies that saw share price growth in the month of June as interest rate rises and concerns of an impending recession took hold. Top of the list […]
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10 Jun 2022 16 min read
QuotedData’s Real Estate Roundup – June 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data May’s biggest movers in price terms are shown in the charts below. A perpetual theme in the listed property sector over the last few years has been the persistent discount to net asset value that many companies’ share prices have traded on. Some have succumbed to […]
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12 Apr 2022 7 min read
QuotedData’s Real Estate Quarterly Review – First Quarter 2022
Real Estate Quarterly Review Kindly sponsored by Abrdn Value to be found in topsy-turvy market The first three months of 2022 have been full of significant events. Investor caution followed Russia’s invasion of Ukraine and put paid to a London-listed property company with a portfolio of Russian assets (see page 6 for details). The cost-of-living crisis […]
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09 Mar 2022 11 min read
QuotedData’s Real Estate Roundup – March 2022
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the charts below. The geopolitical uncertainty caused by the Russian invasion of Ukraine has hit markets hard. On the whole, the property sector suffered losses during February, but there were a few companies that saw […]
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24 Jan 2022 10 min read
QuotedData’s Real Estate Annual Review – 2021
Real Estate Annual Review Kindly sponsored by Aberdeen Standard Investments Bouncebackability Over the course of 2021, the property sector certainly rebounded from the depths of the pandemic-induced slumps of 2020, with the average share price of listed property companies up 14.2%. That didn’t mean there were not some ups and downs along the way. The […]
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07 Jan 2022 9 min read
QuotedData’s Real Estate Roundup – January 2022
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data December’s biggest movers in price terms are shown in the charts below. The year of 2021 ended with positive news that the Omicron variant was less serious than first thought, resulting in a lockdown over the Christmas-trading period being avoided. It was Home REIT […]
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06 Dec 2021 13 min read
QuotedData’s Real Estate Roundup – December 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the charts below. November ended under a cloud of uncertainty, with the discovery of the Omicron coronavirus variant threating a return of restrictions that have wreaked havoc in the property sector over the past two […]
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15 Jul 2021 8 min read
QuotedData’s Real Estate Quarterly Review – second quarter 2021
Value hunters boost property The easing of lockdown restrictions throughout the quarter saw property companies stage somewhat of a comeback from the depths of the pandemic, despite ‘freedom day’ being delayed into July. The potential for an economic bounce in the second half of the year is growing and generalist real estate investment trusts (REITs), […]
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07 Jun 2021 14 min read
QuotedData’s Real Estate Roundup – June 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data May’s biggest movers in price terms are shown in the chart below. Unsurprisingly, St Modwen Properties saw a big rise in its share price in May having received a cash offer for the business (logistics developments and a housebuilding arm) from Blackstone, valuing it […]
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19 Apr 2021 8 min read
QuotedData’s Real Estate Quarterly Review – first quarter 2021
Lockdown cloud begins to lift The success of the vaccine rollout in the UK and the implementation of a roadmap out of lockdown saw the share prices of listed property companies – most of which had been decimated during the last year – make somewhat of a recovery. The economy is on firmer footing and […]
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08 Mar 2021 10 min read
QuotedData’s Real Estate Roundup – March 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the chart below. The roadmap out of lockdown and the impressive vaccination programme in the UK has lifted confidence in a swift economic recovery and triggered a shift to value stocks. Property companies on significant […]
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11 Feb 2021 6 min read
QuotedData’s Real Estate Roundup – February 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data January’s biggest movers in price terms are shown in the chart below. The UK’s vaccination programme has lifted optimism for a speedier opening of the economy than first feared at the start of the year. Property companies that reported positive valuation figures for the […]
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22 Jan 2021 12 min read
QuotedData’s Real Estate Annual Review – 2020
Real Estate Annual Review Kindly sponsored by Aberdeen Standard Investments Riding out the COVID rollercoaster The 2020 rollercoaster saw more downs than ups and at times felt like a pandemic induced freefall. Lockdowns, tiers and plenty of U-turns meant investing in property was not for the faint hearted. Positivity returned at the end of the […]
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14 Jan 2021 9 min read
QuotedData’s Real Estate Roundup – January 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data December’s biggest movers in price terms are shown in the chart below. The boost of coming out of the second national lockdown in early December was short lived as Christmas was cancelled for most of the UK with COVID-19 cases spiking. It did little […]
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17 Dec 2020 12 min read
QuotedData’s Real Estate Roundup – December 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the chart below. The eagerly awaited news of a successful vaccine candidate came at the start of November, boosting the stock market. Property companies that had seen their share price battered over the past eight […]
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12 Nov 2020 9 min read
QuotedData’s Real Estate Roundup – November 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data October’s biggest movers in price terms are shown in the chart below. October finished with the threat of a second lockdown looming over the UK as COVID-19 cases continued to rise. However, this did not dampen demand for shares in some of the companies […]
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16 Jul 2020 7 min read
QuotedData’s Real Estate Quarterly Review – Q2 2020
Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments A polarised lens The covid-19 pandemic continued to wreak havoc in the real estate in the second quarter, but a polarisation of sectors and funds has started to become apparent. Companies focused on the retail, leisure and hospitality property sectors had already seen huge negative […]
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07 May 2020 11 min read
QuotedData’s Real Estate Roundup – May 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data April’s biggest movers in price terms are shown in the chart below. Following two months of heavy falls as the covid-19 pandemic took hold and the UK was put on lockdown, many property companies saw a bounce in their share price in April, although […]
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10 Dec 2019 15 min read
QuotedData’s Real Estate Roundup – December 2019
Real Estate Roundup Performance data November’s biggest movers in price terms are shown in the chart below. November saw a host of companies report interim and full year results with varying outcomes. CLS Holdings, which owns a diverse portfolio split between the UK, Germany and France, gave a positive trading update that outlined its capital […]
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10 Oct 2019 21 min read
Retail property market – ready for a renaissance?
Ready for a renaissance? There have been few structural shifts in the property sector as profound as the one currently taking place in retail. Consumer spending patterns have drastically changed over the past five years, with online sales now accounting for 19.7% of all retail spend in the UK (August 2019, source: ONS), compared to […]
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21 min read
Retail property market – ready for a renaissance?
Retail ready for a renaissance? There have been few structural shifts in the property sector as profound as the one currently taking place in retail. Consumer spending patterns have drastically changed over the past five years, with online sales now accounting for 19.7% of all retail spend in the UK (August 2019, source: ONS), compared […]
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11 Dec 2017 1 min read
QuotedData’s economic round up – December 2017
QuotedData’s economic round up – December 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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03 Aug 2017 1 min read
QuotedData investment companies roundup – August 2017
QuotedData investment companies roundup – August 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out […]
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14 Jun 2017 1 min read
QuotedData investment companies roundup – June 2017
QuotedData investment companies roundup – June 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
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1 min read
QuotedData’s economic round up – June 2017
QuotedData’s economic round up – June 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
News
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17 Dec 2024 1 min read
Landsec acquires Liverpool ONE for £490m
Land Securities has acquired a 92% stake in Liverpool ONE, one of the premier shopping centres in the UK, from the Abu Dhabi Investment Authority (ADIA – 69%) and Grosvenor (23%) for an overall consideration of £490m. The income return on Landsec’s initial £455m outlay (a payment of £35m to ADIA is deferred for two years) […]
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15 Nov 2024 1 min read
QuotedData’s morning briefing 15 November 2024 – FP., LAND
In QuotedData’s morning briefing 15 November 2024: Fondul Proprietatea (FP.) has published its quarterly report for the three months ended 30 September 2024. The Adjusted NAV per share as at 30 September 2024 was RON 0.7319 per share, which is 10.76% higher than its value of RON 0.6608 as at the 31 December 2023. The fund’s […]
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17 Sep 2024 1 min read
QuotedData’s morning briefing 17 September 2024 – AJOT, NAVF, LAND, HWG, CREI
In QuotedData’s morning briefing 17 September 2024: AVI Japan Opportunity (AJOT) made good progress over the first half of 2024, generating a return of 7.7% in NAV terms, well-ahead of the -0.2% return generated by MSCI Japan Small Cap and ahead of rival Nippon Active Value (NAVF) which also announced interims today and posted a […]
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25 Jun 2024 1 min read
QuotedData’s morning briefing 25 June 2024 – FSF, LAND, HEFT, SONG
In QuotedData’s morning briefing 25 June 2024: Foresight Sustainable Forestry (FSF) announced its interim results for the six months to 31 March 2024. The company recorded a profit for the period of £6.6m, while delivering a NAV per share return of 3.9% since 30 September 2023. The key drivers of the uplift were the upwards […]
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17 May 2024 1 min read
Values stabilising for Land Securities after difficult year
Land Securities reported an 8.2% reduction in EPRA net tangible assets (NTA) per share to 859p in annual results to 31 March 2024, as the impact of higher interest rates weighed on property valuations. The group’s portfolio fell 6.0% in the year, which was weighted to the first half of the year. The company said […]
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08 May 2024 2 min read
Land Securities checks out of £400m hotel portfolio
Land Securities has completed the sale of its entire hotel portfolio to real estate funds managed by Ares Management for £400m. This compares to a September 2023 book value of the assets of £404m. The disposal is in line with Landsec’s strategy to release capital from sectors in which the company does not have scale […]
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12 Mar 2024 2 min read
QuotedData’s morning briefing 12 March 2024 – RGL, THRL, LAND, GSF
In QuotedData’s morning briefing 12 March 2024: Regional REIT (RGL) says that it is exploring a possible equity capital raise of around £75m through a rights issue that would be at a material discount to the current share price. The company adds that the rights issue is one of a range of refinancing options it is […]
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14 Nov 2023 1 min read
QuotedData’s morning briefing 14 November 2023 – VEIL, VNH, LAND, PCTN
In QuotedData’s morning briefing November 14 2023: VietNam Holding Limited (VNH) provided a monthly update with NAV total return down 11.7% due to rising foreign exchange headwinds and geopolitical pressures. Despite the size of the move, this was still ahead of the benchmark VNAS fall of 12.5%. The company also announced it had won the […]
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09 Mar 2023 2 min read
QuotedData’s morning briefing 9 March 2023
In QuotedData’s morning briefing 9 March 2023: US Solar Fund (USF) says its board and its advisers have engaged with a significant number of parties and, following receipt of indicative proposals, have shortlisted several parties who have proceeded to the next phase of its strategic review process. In order to provide the shortlisted parties with […]
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15 Nov 2022 1 min read
QuotedData’s morning briefing 15 November 2022
In QuotedData’s morning briefing 15 November 2022: The Financial Times has a story that the government has made another U-turn on its energy policy and will revert to the idea of a windfall tax on renewable generators, this despite it having passed the legislation necessary to impose a price cap. More detail should be forthcoming […]
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21 Sep 2022 1 min read
Landsec sells Moorgate station office for £809m
Land Securities has exchanged contracts to sell its Moorgate station office development 21 Moorfields, EC2, to Lendlease for £809m. After outstanding development-related items, net cash receipt to Landsec will be £733m. 21 Moorfields is a 568,500 sq ft London office development fully pre-let to Deutsche Bank AG on a 25 year lease, with an annualised […]
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12 May 2022 1 min read
Land Securities sells Strand office for £195m
Land Securities has agreed a deal to sell 32-50 Strand, in London, for £195m, representing a net initial yield of 4.2% to Sinarmas Land Limited, a real estate company listed on the Singapore Exchange. The disposal is in line with Landsec’s strategy to recycle capital into higher return opportunities, and is expected to complete in June 2022. […]
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05 Nov 2021 2 min read
QD view – grabbing the bull by the horns
Here at QuotedData we like a company that takes the bull by the horns and gets on with things. So it was good to see two significant announcements this week from Land Securities (Landsec) that certainly shows courage in their convictions. As we reported this week, Landsec announced it had agreed to takeover listed regeneration […]
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03 Nov 2021 2 min read
Land Securities pays £425.6m for majority stake in MediaCity
Land Securities (LAND) has acquired a 75% stake in MediaCity, the 37 acre media, digital and tech hub home to the BBC in Salford, Greater Manchester, for £425.6m. The site was previously owned by a 50:50 joint venture between Legal & General and Peel L&P. Landsec will partner with Peel L&P who will retain a […]
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01 Nov 2021 3 min read
Land Securities agrees to buy U and I Group for £190m
Land Securities (LAND) has agreed terms of a recommended all cash offer for U and I Group (UAI), valuing the company at £190m. Under the terms of the acquisition, UAI shareholders will be entitled to receive 149p per share, which is a mammoth 73% premium to the closing price of 86.0p on 29 October 2021. […]
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30 Apr 2021 2 min read
QD view – Rent Wild West needs a solution
After last week’s news that several property landlords, including AEW UK REIT, had successfully sued some of its tenants for rent arrears that had amassed during the COVID pandemic, two of property’s big boys – Land Securities and British Land – have set up plans for a more amicable solution to the rent conundrum. The […]
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12 Jan 2021 1 min read
Land Securities receives 50% of rent
Land Securities has received just 50% of normal rental levels for the first quarter of 2021. The company, which predominantly owns a large retail portfolio and London offices, had collected £66m of the £112m due five days after billing tenants on 25 December 2020. It collected 81.25% of the £64m rent due from its office […]
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07 Dec 2020 1 min read
Land Securities buys City development opportunity for £87m
Land Securities has acquired a City of London office building for £87m, reflecting a net initial yield of 4.1%. The company has bought 55 Old Broad Street, EC2, which comprises 100,000 sq ft, from PGIM Real Estate. The 10-storey building wraps around Land Securities’ City office tower Dashwood and is located a two minute walk […]
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04 Dec 2020 2 min read
QD view – What next for Debenhams, Arcadia landlords?
The retail Armageddon took another sobering twist this week, with the liquidation of department store Debenhams and former high street fashion kingpin Arcadia Group going into administration. The headline numbers are shocking, the main one being that around 25,000 jobs are at risk. From a property point of view, the double collapse could see up […]
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1 min read
Landsec sells 1 & 2 New Ludgate to Sun Venture
Landsec has announced that it has exchanged contracts to sell 1 & 2 New Ludgate to Sun Venture for a cash consideration of £552m. Completion is expected to take place by the end of December 2020 and is unconditional. Landsec says that the proceeds will initially be used to pay down debt before being reinvested […]
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20 Nov 2020 2 min read
QD view – The valuation game
Commercial property valuation has been a bone of contention for years. It is generally accepted that valuers are slow to react to changes in the sector. Just look at the recent history of retail valuations. Despite clear evidence that rents were falling due to the impact on retailer demand for space caused by a boom […]
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10 Nov 2020 2 min read
Land Securities reports £835m loss in half-year results
Land Securities has reported an £835m loss for the six months to the end of September 2020 as the value of its property portfolio tumbles £945m (7.7%) to £11.8bn. The company’s EPRA net tangible assets (the new metric that replaces EPRA NAV) was down 9.5% to 1,079p. Adjusted diluted earnings was down 49% to 15.5p […]
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23 Oct 2020 2 min read
QD view – Will Landsecs return to former glory?
Mark Allan, the new chief executive of Land Securities, this week set out his strategy for growth at the former goliath of listed property companies. Since taking over the hot seat from Rob Noel in April, Allan has been undertaking a strategic review of the business. That review has concluded with four key pillars for […]
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19 Oct 2020 2 min read
Land Securities sets out new strategy
Land Securities’ chief executive Mark Allan has set out the company’s future strategic direction that will see it “benefit from long-term macro trends”. Having completed a strategic review of the business since joining in April 2020, Allan said four strategic priorities have been identified. Optimise central London business. Through targeted capital recycling to crystallise significant value already […]
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16 Oct 2020 2 min read
QD view – Rent collection nuggets
Fourth quarter rent collection figures have been coming in thick and fast over the past week or so and overall they show a general improvement on collection rates during the COVID-19 pandemic. There are a few nuggets to come from the announcements so far. The first thing to say is that collection rates have improved […]
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09 Oct 2020 1 min read
British Land and Land Securities reveal quarterly rent collection figures
The two listed real estate giants – British Land and Land Securities – both published rent collection figures today that sum up the division in the property market. Both companies own London offices as well as large retail portfolios. On the offices front, both received a large majority of rent billed for the final quarter […]
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28 Aug 2020 2 min read
Working from home or back to work?
The debate around the future of the office continues to rage. It was reported today that the government is likely to set about on a campaign to get people back to the office. If the economy is going to bounce back quickly, cities like London, Manchester and Birmingham buzzing with office workers will certainly help. […]
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21 Aug 2020 2 min read
An unlikely saviour of shopping centres
The conundrum of what to do with the vast amount of vacant space in shopping centres has been staring landlords in the face for years. The solution has been mulled over countless times by the biggest landlords, but a deal to convert space left over by ailing department stores into logistics space has yet to […]
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03 Jul 2020 2 min read
Land Securities collects 60% of June ‘net’ rent
Land Securities has provided an update on its June rental collection in which it has says that after taking into account concessions and deferrals, the net rent due at 24 June was £109m (down from a gross of £122m), of which 60% was paid within five working days. The proportion for the prior yearv was […]
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01 May 2020 2 min read
The end of the office? No sirree
How the real estate sector adapts to a ‘new normal’ following covid-19 could have huge implications for listed property companies. QuotedData has reported on the likely effects on the retail and logistics sectors as well as the impact on valuations. One of the biggest unknowns, however, is the outlook for the office sector. This week […]
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20 Apr 2020 1 min read
Retail landlords call for rental support scheme
Retail property landlords have called on the government to implement a rental support scheme as the covid-19 induced lockdown continues to hit income. Groups including British Land and Land Securities have teamed up with some of the biggest UK retailers to write to chancellor Rishi Sunak with their concerns, the FT reported today. They want […]
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12 Nov 2019 1 min read
Retail woes drag on Land Securities as it records a £147m loss in half year results
Land Securities reported a £147m loss in half-year results to the end of September as the group’s retail portfolio continued to lose value following a raft of insolvencies and retailer collapses. The group posted a 3.2% fall in net asset value (NAV) per share to 1,298p from 1,341p as its portfolio lost £368m in value to […]
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04 Oct 2019 2 min read
Mall owners in firing line as John Lewis seeks to withhold chunk of service charge
John Lewis is seeking to withhold 20% of the service charge it pays shopping centre landlords, in a move that will put more pressure on several listed property companies. The BBC has reported that the department store chain has told landlords in some locations that it will withhold 20% of the service charge it is […]
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14 May 2019 2 min read
Land Securities writes down retail investments
Land Securities writes down retail investments – Land Securities has published results for the year ended 31 March 2019. Highlights are: EPRA Net asset value down 4.6% to 1,339p Like for like rental income up 1.9% Adjusted and diluted earnings per share up 12.4% to 59.7p. Dividend per share of 45.55p (up 3.1%) The return […]
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07 Dec 2018 1 min read
Land Securities buys Lavington Street site, adding to Southwark exposure
Land Securities has announced that it has purchased a 1.6 acre site in Lavington Street, SE1 for £87.1m. The purchase, from a private company, increases Land Securities presence in Southwark. Colette O’Shea, Managing Director of Land Securities London Portfolio, said: “This acquisition gives us great potential in a submarket in which we have deep experience. […]
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26 Sep 2017 1 min read
Investment Trust Insider on Custodian REIT
James Carthew: Custodian captures investors’ attention A cloud still hangs over the likes of Land Securities (LAND) and British Land (BLND), whilst Intu Properties (INTU), the shopping centre specialist, is hitting new multi-year lows. However, there is a clear distinction between these older, self-managed real estate investment trusts (Reits) and the newer, externally managed Reits. […]
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01 Aug 2017 1 min read
Land Securities pre-lets 21 Moorfields to Deutsche Bank
Land Securities pre-lets 21 Moorfields to Deutsche Bank – Land Securities and Deutsche Bank have exchanged a pre-let agreement for the bank’s new London headquarters at 21 Moorfields, EC2 on a 25 year lease. The agreement is conditional on planning permission. Landsec has worked closely with Deutsche Bank on the design of a 564,000 sq […]
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27 Jul 2017 2 min read
Land Securities sells its 50% stake in the walkie talkie for £641.3m
Land Securities has announced that it has exchanged contracts to sell its 50% stake of 20 Fenchurch Street, EC3M (the walkie talkie building) for £641.3 million and proposes to return £475 million to shareholders. The purchaser is LKK Health Products Group who will also acquire Canary Wharf Group’s 50% stake in the building, bringing the […]
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13 Jun 2017 1 min read
Investment Trust Insider on UK property
Brexit isn’t all bad news for UK property The past couple of weeks have seen a clutch of results announcements by the larger real estate investment (REIT) and property trusts. The periods they are reporting on incorporate the run up to the referendum vote and its aftermath, and adverse changes to the stamp duty regime. […]
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18 May 2017 3 min read
Land Securities NAV slips as markets pause for breath
For the year ended 31 March 2017, Land Securities’ NAV slipped as it said that its markets are pausing for breath. The chairman says that “In the London office market, we expected the occupational balance to shift from demand to supply during the course of 2017. The Brexit vote brought that inflexion point forward“…”Over the […]
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16 May 2017 1 min read
Land Securities buys three outlet centres
Land Securities has acquired a portfolio of three outlet centres from Hermes Investment Management for GBP332.5 million, generating annualised net rental income of GBP21.6 million. The acquisition follows the recent disposals of The Printworks in Manchester and The Cornerhouse in Nottingham and is in line with the company’s strategy of recycling capital into family focused retail […]
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27 Feb 2017 1 min read
Land Securities sells The Printworks, Manchester, for £108m
Land Securities has announced that it has completed the sale of The Printworks, Manchester, to DTZ Investors for £108m. Redeveloped and reopened in 2000, The Printworks is a Manchester city centre leisure destination, covering 368,770 square feet over four floors. The site is anchored by a 20 screen Odeon cinema, which houses the only IMAX screen in Manchester. In addition, there are […]
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15 Nov 2016 3 min read
Land Securities NAV slips post the referendum
Land Securities has published interim figures covering the six months ended 30 September 2016. Adjusted diluted net assets per share fell 1.8% to 1408p. The adjusted diluted earnings per share rose by 4.7% to 24.3p as revenue profits rose 4.5% to £192.5m. The main drivers of increased revenue profits were lower interest costs (which fell […]
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27 May 2016 3 min read
Shires Income’s emerging markets and commodity holdings drive underperformance
Shires Income, managed by Ed Beal (pictured), has announced its annual results for the year ended 31 March 2016. During the year, the trust’s NAV fell by 7.0% on a total return basis, thereby underperforming its FTSE All-Share Index benchmark, which lost 3.9%. The company says that its NAV underperformance was due principally to stock […]
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18 May 2016 2 min read
Land Securities reports 10% NAV growth
Land Securities has announced results for the year ended 31 March 2016. Over that period its NAV rose by 10.3% to 1482p and its adjusted, diluted NAV rose by 10.9% to 1434p. Revenue profit rose by 10% to £362.1m and this pushed adjusted, diluted EPS up 10.1% to 45.7p. From this they declared dividends totalling […]
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10 Nov 2015 1 min read
Land Securities held back by retail warehouse and food store exposure
Land Securities has announced interim results covering the six months ended 30 September 2015. The adjusted diluted NAV rose 5.7% to 1367p (total return 7.0%) while the adjusted diluted EPS rose by 8.4% to 23.2p helped by a fall in vacant space within the portfolio (from 3.2% to 2.8%). The dividend is being increased by 3.2% […]
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19 May 2015 1 min read
Land Securities beats IPD benchmark
Land Securities results for the year ended 31 March 2015 show a 27.6% increase in adjusted diluted net asset value per share, a 2.5% increase in adjusted diluted earnings per share and they are upping the full year dividend by 3.7% to 31.85p. The ungeared total property return for the year was 23.0%, outperforming the 17.1% return […]
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16 Feb 2015 1 min read
Land Securities buys Moorgate station site
Land Securities has announced the acquisition of a 1.9 acre site at 21 Moorfields, two ’70s office buildings and a TfL access site for the Crossrail works that occupy the former home of Lazards. land securites has plans for a 510,000 sq ft office scheme which will sit above the entrance to Moorgate station and […]
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09 Feb 2015 1 min read
Land Securities to build Westgate Oxford
Land Securities has announced that work will soon begin on its £440m joint venture development, alongside the Crown Estate, of Westgate Oxford. Preparatory works will begin imminently and construction is set to start in spring 2015. The new 800,000 sq. ft. (74,300 sq. m) retail and leisure scheme in the heart of Oxford city centre […]
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09 Dec 2014 1 min read
Land Securities sells off Livingston properties for £224m
Land Securities has announced the sale of ‘The Centre’ and the ‘Almondvale West Retail Park’ in Livingston to HSBC Alternative Investments for £224.1m. The sale reflects Land Securities strategy of refocusing its shopping centre portfolio on ‘dominant regional and Greater London assets’. ‘ The Centre’ is Scotland’s second-largest covered shopping and is home to over 160 retailers. ‘Almondvale West […]
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20 Nov 2014 1 min read
Land Securities buys out partner in Thomas More Square
LAND : Land Securities buys out partner in Thomas More Square Land Securities is paying £85.3m to buy out its 50% joint venture partner in the Thomas More Square estate of offices and retail space in east London. The estate, which sits by the river between St. Katherine’s Dock and London Dock, covers 4.2 acres and currently […]
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11 Nov 2014 1 min read
Land Securities beats IPD in busy six months
LAND : Land Securities beats IPD in busy six months Land Securities has generated an 11.5% uplift in net asset value and a 7.5% uplift in earnings per share over the six months that ended on 30 September 2014. The ungeared return on property was 9.9% – ahead of the 9.3% return on the IPD […]
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13 Aug 2014 1 min read
Land Securities sells its Bristol shopping centres
LAND : Land Securities sells its Bristol shopping centres Land Securities has sold its 50% stake in Cabot Circus shopping centre, the adjacent Quaker Friars luxury goods and dining centre and high street shops. Collectively these generated rents of £17.3m for Land Securities – they fetched £267.8m, equivalent to a yield of 6.5%. Land Securities […]
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25 Jun 2014 1 min read
Land Securities : LAND – acquisition
After selling a shopping centre in Sunderland, Land Securities is spending the proceeds on a 30% stake in Bluewater. The purchase price is £656m, the seller is Lend Lease and Land securities are also paying £40m for the rights to manage the whole centre and the adjoining land (110 acres). The purchase price equates to […]
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24 Jun 2014 1 min read
Land Securities : LAND – disposal
Land Securities has sold the 550,000 sq ft Bridges shopping centre in Sunderland for £152m – equivalent to an initial yield of 6.9%. Land Securities bought the centre in 1993 but is selling as it says the centre does not fall within its strategic focus and so it is taking advantage of strong market conditions to sell […]
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15 May 2014 1 min read
Land Securities : LAND – annual results
Land Securities has released results for the year ended 31 March 2014. The net asset value was up – adjusted / diluted up 12.2% to £10.13. Overall they underperformed the IPD quarterly universe – the ungeared total property return was 12.8% vs. 13.6% for the index. They increased the dividend to 30.7p (up 3%). At 20 Fenchurch […]
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22 Jan 2014 1 min read
Land Securities : LAND – Q3 statement
LAND’s Q3 statement does not include a new NAV – they only value their properties twice a year – but it does states they have signed £7.3m of lettings in new developments and have a further £7.9m of lettings in solicitors’ hands. LAND have started £243m of new developments at 1 New Street Square and […]