Edition:
United States

Land Securities Group PLC (LAND.L)

LAND.L on London Stock Exchange

965.10GBp
10:53am EDT
Change (% chg)

17.50 (+1.85%)
Prev Close
947.60
Open
953.20
Day's High
967.10
Day's Low
952.80
Volume
2,177,273
Avg. Vol
2,091,473
52-wk High
1,141.33
52-wk Low
900.20

Latest Key Developments (Source: Significant Developments)

Land Securities Says Land Securities Launched Separate Invitations To Holders Of Three Series Of Bonds
Friday, 16 Mar 2018 05:47am EDT 

March 16 (Reuters) - Land Securities Group Plc ::CONFIRMS UNIT, LAND SECURITIES , LAUNCHED SEPARATE INVITATIONS TO HOLDERS OF THREE SERIES OF ITS BONDS TO TENDER THEIR NOTES FOR CASH​.‍NOTES HAVE AN EXPECTED MATURITY DATE RANGING FROM 2025 TO 2034​.  Full Article

Land Securities Says ‍Dame Alison Carnwath To Retire From Board In 2018
Friday, 2 Mar 2018 02:01am EST 

March 2 (Reuters) - Land Securities Group Plc ::‍DAME ALISON CARNWATH INTENDS TO RETIRE FROM BOARD IN 2018, HAVING SERVED NINE YEARS AS CHAIRMAN AND THIRTEEN YEARS ON BOARD​.‍BOARD HAS BEEN CONDUCTING A PROCESS WITH ASSISTANCE FROM EXTERNAL CONSULTANTS TO IDENTIFY AND APPOINT NEXT LANDSEC CHAIRMAN​.‍FURTHER ANNOUNCEMENT WILL BE MADE IN DUE COURSE AND DAME ALISON WILL CONTINUE IN HER ROLE UNTIL THIS PROCESS IS COMPLETE​.  Full Article

Land Securities ‍Confirms Third Interim Dividend
Wednesday, 21 Feb 2018 05:20am EST 

Feb 21 (Reuters) - Land Securities Group Plc ::‍CONFIRMS THAT THIRD INTERIM DIVIDEND FOR 2017/18 WILL BE 9.85P PER ORDINARY SHARE, PAYABLE ON APRIL 6​.  Full Article

Land Sec Says Resolution To Grant Planning Permission Secured For Moorfields Project
Tuesday, 20 Feb 2018 08:09am EST 

Feb 20 (Reuters) - Land Securities Group Plc ::HAS SECURED A RESOLUTION TO GRANT A REVISED PLANNING PERMISSION FOR ITS PROPOSED 564,000 SQ FT DEVELOPMENT AT 21 MOORFIELDS, EC2.IN JULY 2017 LANDSEC AND DEUTSCHE BANK EXCHANGED A PRE-LET AGREEMENT FOR BANK'S NEW LONDON HEADQUARTERS.EXPECTS THAT CONSTRUCTION WILL CONTINUE STRAIGHT THROUGH TO PRACTICAL COMPLETION, ANTICIPATED IN NOVEMBER 2021.  Full Article

Land Securities says ‍headwinds of Brexit starting to show in economy
Tuesday, 14 Nov 2017 01:56am EST 

Nov 14 (Reuters) - Land Securities Group Plc :INTERIM DIVIDEND UP 10.1 PERCENT TO 19.7 PENCE PER SHARE.REVENUE PROFIT IS UP 5.2% AND ADJUSTED DILUTED EARNINGS PER SHARE ARE UP 5.8% FOR SIX MONTHS ENDED 30 SEPTEMBER 2017​.‍VALUATION OF COMBINED PORTFOLIO IS LITTLE CHANGED, ADJUSTED DILUTED NET ASSET VALUE PER SHARE IS UP 1.1% VALUATION OF COMBINED PORTFOLIO IS LITTLE CHANGED, ADJUSTED DILUTED NET ASSET VALUE PER SHARE IS UP 1.1%​.‍SALE OF 20 FENCHURCH STREET, EC3 AT AN EXCEPTIONAL PRICE DEMONSTRATED OUR DISCIPLINED APPROACH TO MANAGING CAPITAL​.‍ SALE OF 20 FENCHURCH STREET CRYSTALLISED A 170% PROFIT ON COST AND SIGNIFICANT VALUE FOR SHAREHOLDERS​.‍HEADWINDS OF BREXIT ARE BEGINNING TO SHOW IN ECONOMY​.‍ACQUISITIONS, DEVELOPMENT AND REFURBISHMENT EXPENDITURE OF £463M​.‍FIRST HALF DIVIDEND OF 19.7P, UP 10.1%​.‍"NEGOTIATIONS WITH EU ARE MOVING MORE SLOWLY THAN BUSINESSES WOULD HAVE HOPED. COUPLED WITH POLITICAL UNCERTAINTY, THIS IS LEADING TO CAUTION"​.‍"IN LONDON, WE ARE HAPPY NOT TO BE DELIVERING SPECULATIVE BUILDINGS IN SHORT TERM"​.‍"OVER NEXT SIX MONTHS, WE WILL CONTINUE TO FOCUS ON ASSET MANAGEMENT AND PREPARATIONS FOR FUTURE INVESTMENT AND DEVELOPMENT"​.REVENUE PROFIT OF £203M IN SIX MONTHS ENDED 30 SEPTEMBER 2017 (VERSUS £193M)‍​.LOSS BEFORE TAX £(33)M IN SIX MONTHS ENDED 30 SEPTEMBER 2017 (VERSUS £(95)M)‍​.  Full Article

Land Securities disposes of "Walkie Talkie" skyscraper
Thursday, 27 Jul 2017 07:44am EDT 

July 27 (Reuters) - Land Securities Group Plc :DISPOSAL OF 20 FENCHURCH ST & RETURN OF PROCEEDS.SELLS ITS SHARE OF 20 FENCHURCH STREET, EC3M FOR £641 MILLION AND PROPOSES TO RETURN £475 MILLION TO SHAREHOLDERS.EXCHANGED CONTRACTS TO SELL ITS 50% STAKE IN 20 FENCHURCH STREET, EC3M TO LKK HEALTH PRODUCTS GROUP LIMITED FOR A HEADLINE PRICE OF £641.3 MILLION.LKKHPG WILL ALSO ACQUIRE CANARY WHARF GROUP'S 50% STAKE IN BUILDING, BRINGING TOTAL HEADLINE PRICE TO £1,282.5 MILLION.AFTER COSTS OF SALE, TOP UP OF UNEXPIRED RENT FREE PERIODS AND OTHER COMMITMENTS, LANDSEC EXPECTS TO RECEIVE £634.5 MILLION IN NET PROCEEDS.WILL BE RETURNING CASH TO SHAREHOLDERS AS RESULT OF SALE, GEARING WILL REMAIN UNCHANGED FROM CURRENT LEVELS.  Full Article

Lkk Health Products Group acquires Landmark office building for 1.28 bln stg
Thursday, 27 Jul 2017 02:00am EDT 

July 27 (Reuters) - LKK Health Products Group :Lkk Health Products Group acquires Landmark office building at 20 Fenchurch street in London for GBP 1.2825 billion.Lkk Health Products says deal for a total consideration of GBP 1.2825 billion (approximately HKD 12.8 billion).Lkk Health Products - On July 26 it has entered into agreement with Land Securities Group Plc to acquire commercial building at 20 Fenchurch street, London, known as "Walkie Talkie".  Full Article

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

RPT-UPDATE 1-Land Securities NAV dips on refinancing costs, names new chairwoman

May 15 Land Securities, Britain's largest listed property developer, posted a slight fall in full-year adjusted net asset value per share on Tuesday, hurt by the cost of refinancing bonds, and said it named Cressida Hogg as new chairwoman.