REG - Land Sec. Group PLC - Acquisition in Lavington Street, SE1
RNS Number : 7350JLand Securities Group PLC07 December 2018Landsec increases Southwark exposure with acquisition in Lavington Street, SE1
Landsec has expanded its presence in Southwark with the acquisition of a 1.6 acre site in Lavington Street, SE1 for £87.1m from a private company.
The low density site currently comprises two buildings totalling 128,000 sq ft and has significant development potential. Lavington Street will add to Landsec's development pipeline in central London, which currently stands at 2m sq ft, and builds on the company's existing development opportunities in Southwark at 105 Sumner Street and Red Lion Court.
Colette O'Shea, Managing Director, London Portfolio, said: "This acquisition gives us great potential in a submarket in which we have deep experience. We're excited about the development prospects for this site due to a combination of location, flexibility and scale."
Ends
About Landsec
At Landsec, we believe great places are for people to experience and are made with the experience of great people. We own and manage some of the most successful and recognisable assets in the country. Our £14.0 billion portfolio spans 23.9 million sq ft of real estate and is a diverse mix of offices, retail and leisure.
We aim to lead our industry in critical long-term issues - from diversity and community employment, to carbon and climate resilience. Everything we do is grounded in experience and begins with people. We deliver value for our shareholders, great experiences for our customers and positive change for our communities. At Landsec, everything is experience.
Find out more at landsec.com
Please contact:
Press
Molly Neal
+44 (0)20 7024 5460
Molly.Neal@landsec.com
Investors
Ed Thacker
+44 (0)20 7024 5185
Ed.Thacker@landsec.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDACQKMMGZVVDGRZM
Recent news on Land Securities
See all newsREG - Land Sec. Group PLC - Director/PDMR Shareholding
AnnouncementREG - Land Sec. Group PLC - Total Voting Rights
AnnouncementREG - Land Sec. Group PLC - Block listing Interim Review
AnnouncementREG - Land Sec. Group PLC - Confirmation of Full Year Results Date
AnnouncementREG - Land Sec. Group PLC - Landsec Announces New Bond Issuance
Announcement