Landsec swings to first-half loss after retail property values plunge November 12, 2019 Landsec swung to a pre-tax loss in the first half of the year after the value of its retail and leisure assets suffered in an increasingly challenging market for tenants. The figures The company reported a pre-tax loss of £147m, compared to a profit of £42m the previous year, resulting in a loss per share [...]
Focus on Victoria: Once just a train station, this central postcode now has an identity all its own October 25, 2019 There was a time not so long ago when Victoria was a train station, not an area. You could be ‘near Victoria station,’ but not ‘in Victoria’. Happily, it’s now made the transition thanks to an explosion of new bars, shops, offices and restaurants which have put the district firmly on the map. “For many [...]
Landsec chief executive Robert Noel to retire July 11, 2019 Landsec chief executive Robert Noel is set to step down next year, the property giant announced today. Noel will retire after ten years at the firm and eight in the chief executive role after he joined Landsec as managing director of the London portfolio in 2010. Read more: Landsec: A tale of two portfolios He [...]
British Land swings to a loss as retail troubles hit property values May 15, 2019 British Land became the latest in a string of property giants to reveal a fall in the value of its assets today, swinging to a loss amid turmoil in the retail sector. The FTSE 100 group, which owns developments such as Broadgate campus in the City of London, reported a £300m loss in the 12 months [...]
Landsec: A tale of two portfolios May 14, 2019 Investors trying to work out what the future holds for property giant LandSec, which delivered a dismal set of results to the City this morning, could do worse than take a stroll through its Square Mile development. The complex, aptly named One New Change, is a fitting example of how the FTSE 100 real estate [...]
Bluewater owner Land Securities sees losses almost triple amid retail closures May 14, 2019 Land Securities, the owner of Kent’s Bluewater shopping centre, saw losses almost triple in its latest financial year as it blamed a “challenging year” full of retail closures, but still managed to bump up its dividend. Read more: JP Morgan downgrades shopping centre landlord Intu The figures The retail property giant saw losses before tax [...]
Sharp rise in property values for UK’s top shared office space providers January 28, 2019 The value of property owned by the UK’s biggest shared office providers soared by more than a third last year. In a sign of the growing flexible workspace market, the value of the industry’s top ten share office providers’ property jumped 35 per cent to £13.6bn last year. The new data, released by real estate [...]
Landsec becomes latest property giant to muscle in on flexible workspace market January 22, 2019 Landsec has become the latest major developer to launch its own flexible workspace brand, joining property rivals hoping to tap into the growing demand for shorter leases and co-working offices. In a bid to rival the likes of commercial property disruptors such as WeWork, the blue-chip firm revealed today its plans to set up a new [...]
Landsec profits rise despite retail’s property slump November 13, 2018 Property developer Landsec recorded a rise in profits in its half-year results today, despite a fall in property values caused by the struggling retail sector. The figures Profits before tax rose to £42m, up from £34m last year. Revenue rose 10.3 per cent to £224m compared to the same period of 2017. Dividend per share was [...]
City Moves for 14 September 2018 – who’s switching jobs at European Vacation Rentals, CBRE and QualiTest? September 14, 2018 Today’s City Moves cover tourism, property and software. Take a look at these movers and shakers: European Vacation Rentals Henrik Kjellberg, former president at Expedia, has been appointed group chief executive of the European Vacation Rentals business acquired by Platinum Equity from Wyndham Worldwide earlier this year. Henrik has spent more than 20 years working [...]