November 12, 2013 / 7:22 AM / 4 years ago

Land Secs says "Walkie Scorchie" issue not deterring occupiers

LONDON, Nov 12 (Reuters) - Land Securities, Britain’s largest developer, said its first-half net asset value rose 3.8 percent and that it was close to resolving the solar glare issue plaguing one of its London skyscrapers.

The company, which hit the headlines after its 20 Fenchurch Street skyscraper in London’s City financial district was blamed for causing sun damage to a Jaguar car, said on Tuesday the scheme was now 56 percent pre-let with a further 20 pecent in a solicitors’ hands.

“Despite the solar glare issue of the summer, occupiers have not been blinded to the efficiency and location of the building. We are close to resolving the issue and it will not delay occupation nor inflate budgeted cost,” it said.

Land Securities said adjusted diluted net asset value per share rose 3.8 percent to 937 pence over the six months to Sept 30, while revenue profit rose 8.9 percent to 156.5 million pounds. It also increased its dividend by 2.7 percent to 15.2 pence.

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