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Land Securities Group PLC (LAND.L)

LAND.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Land Securities says Brexit lead to lower occupational demand
Thursday, 18 May 2017 02:00am EDT 

May 18 (Reuters) - Land Securities Group Plc :Final dividend 11.7 penceper share.Fy revenue profit increased by 5.5% to £382m,.Fy adjusted diluted nav per share is down marginally over year at 1,417p.Has just 283,000 sq ft available to let from its london sepculative development programme commenced in 2010.Has a 1.4 million sq ft pipeline of future development opportunities to exploit when time is right.Fy ungeared total property return(1) of 3.7% (ipd quarterly universe 4.6%).Fy voids(1) in like-for-like portfolio: 4.6% (31 march 2016: 2.4%).Fy combined portfolio(2) valued at £14.4bn, with a valuation deficit(2) of 1.0%.In london office market, expects occupational balance to shift from demand to supply during course of 2017.Brexit vote brought that inflexion point forward for shift of occupational balance from demand to supply."we won't be sure of the long-term effect of brexit on our markets for some time" - ceo."we're taking this time to prepare the business for the opportunities and challenges we see ahead" - ceo." retailers were a little slower to take up new space during the year but we continued to see opportunities" - ceo.brexit has lead to lower occupational demand, falling rental values, reduction in construction commitments, though less than co expected.  Full Article

Land Securities confirms pre-letting talks with Deutsche Bank
Friday, 24 Mar 2017 03:03am EDT 

Land Securities Group Plc : In response to recent press comment regarding its development site at 21 Moorfields, EC2 . Confirms it will shortly complete demolition of existing buildings which will be followed by construction of an above station raft . Construction of raft is due to be completed by June 2018. . Also in discussions with Deutsche Bank regarding a pre-let for development .Negotiations will take several months and there is no guarantee they will lead to a transaction..  Full Article

Land Securities announces indicative results of tender offers
Wednesday, 1 Feb 2017 03:26am EST 

Land Securities Group Plc : Announces indicative results of tender offers .Subject to satisfaction of new issue condition, expected tender offer settlement date is Feb. 8, 2017.  Full Article

Land Securities six-month adjusted NAV falls slightly
Tuesday, 15 Nov 2016 02:30am EST 

Land Securities Group Plc : Ungeared total property return(1) of 0.5% (ipd quarterly universe 0.2%) . Group ltv ratio(3) at 22.6%, based on adjusted net debt(3) of £3.3bn . Have seen early indications of revised policy priorities after brexit that may affect our market, including public spending, housing and infrastructure . Total business return(2)(3) of -0.5% . Ombined portfolio(3) valued at £14.4bn, with a valuation deficit(3) of 1.8% . H1 adjusted diluted net assets per share(1)(4) 1,408p versus 1,434p year earlier . Uncertain conditions following Brexit vote are having a tangible effect on commercial property market - ceo . Occupational demand for office space in london is hesitant and vacancy rate has continued to rise . Uncertainty after brexit has also affected real estate pricing. Our external valuer has marked down our assets by 1.8% since 31 march 2016 -CEO .Interim dividend up 9.8 percent to 17.9 penceper share.  Full Article

Interserve wins facilities management account with Land Securities
Monday, 17 Oct 2016 02:00am EDT 

Interserve Plc : Contract win . Interserve wins £37.5 million facilities management account with Land Securities .Will provide a range of services including security, cleaning, customer service support and waste management, across eight of Land Securities' flagship shopping centres.  Full Article

Land Securities says ADR programme terminated
Monday, 5 Sep 2016 05:49am EDT 

Land Securities Group Plc : American depositary receipt ("ADR") programme was terminated as of 1 September 2016 .Depositary will attempt to sell remaining ordinary shares held on deposit.  Full Article

Land Securities full-year NAV rises
Tuesday, 17 May 2016 02:00am EDT 

Land Securities Group Plc : FY basic NAV per share at 1,482p versus 1,343p year earlier . Adjusted diluted nav per share(3) 1,434p versus 1,293p last year . Profit before tax £1,335.6m versus £2,416.5m last year . Dividend 35.0p versus 31.85p last year . Ungeared total property return 11.5 pct (IPD quarterly universe 11.3 pct) . Aim to maintain our progressive dividend policy from this level . Though no asset is sacrosanct, we are not expecting to make any material disposals over coming year . Believe a vote to leave EU would lead to business uncertainty while negotiations take place on an exit treaty . Over short term, we anticipate uncertainty around EU vote would drive down occupational demand in our market . Final dividend 10.55 pence per share .Total dividend up 9.9 percent to 35 pence per share.  Full Article

Land Securities Group PLC declares third interim dividend
Thursday, 21 Jan 2016 02:00am EST 

Land Securities Group PLC:Says third interim dividend of 8.15 pence per share will be paid on 8 April 2016, entirely as a Property Income Distribution (PID), to shareholders on the register on 11 March 2016.  Full Article

UPDATE 1-Land Securities warns Brexit uncertainty hitting London office market

May 18 Britain's largest listed property developer Land Securities warned that Brexit had created business uncertainty in the London office market, leading to falls in demand, rental values and construction commitments.